Loan Comparison: 2.25% vs 6.5%
117 35th SW Street, Loveland, CO 80537 · 4bd/2ba · $599,950
List Price
$599,950
Assumable Rate
2.25%
Remaining Balance
$320,709
Equity Gap
$279,241
Loan Type
Adjust Your Scenario
$29,998
$29,998$279,241
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.25% ()
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 2.25% + gap loan
$2,969/moAssumed loan: $1,226/mo
Gap financing: $1,743/mo
$634less per month with the assumable
Your Savings on This Property
117 35th SW Street, Loveland · 2.25% vs 6.5% conventional
$634
per month
$7,606
per year
$228,185
over 30 years
$228,184
interest saved
How gap financing works: The equity gap ($279,241) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,998, 5% of purchase price) and a second mortgage for the rest ($249,243 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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