Loan Comparison: 3.33% vs 6.5%
2743 Tallgrass Lane, Berthoud, CO 80513 · 5bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.33%
Remaining Balance
$301,946
Equity Gap
$163,054
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$163,054
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.33% (FHA)
Blended Rate: 4.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.33% + gap loan
$2,305/moAssumed loan: $1,327/mo
Gap financing: $978/mo
$487less per month with the assumable
Your Savings on This Property
2743 Tallgrass Lane, Berthoud · 3.33% FHA vs 6.5% conventional
$487
per month
$5,847
per year
$175,410
over 30 years
$175,410
interest saved
How gap financing works: The equity gap ($163,054) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($139,804 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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