Loan Comparison: 2.875% vs 6.5%
39286 Hart Circle, Elizabeth, CO 80107 · 5bd/4ba · $549,900
List Price
$549,900
Assumable Rate
2.875%
Remaining Balance
$34,203
Equity Gap
$515,697
Loan Type
FHAAdjust Your Scenario
$27,495
$27,495$515,697
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.875% (FHA)
Blended Rate: 7.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 2.875% + gap loan
$3,555/moAssumed loan: $142/mo
Gap financing: $3,414/mo
Your Savings on This Property
39286 Hart Circle, Elizabeth · 2.875% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($515,697) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($488,202 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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