Loan Comparison: 6.12% vs 6.5%
271 County Road 512, Divide, CO 80814 · 4bd/2ba · $549,000
List Price
$549,000
Assumable Rate
6.12%
Remaining Balance
$485,897
Equity Gap
$63,103
Loan Type
FHAAdjust Your Scenario
$27,450
$27,450$63,103
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.12% (FHA)
Blended Rate: 6.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 6.12% + gap loan
$3,200/moAssumed loan: $2,951/mo
Gap financing: $249/mo
$96less per month with the assumable
Your Savings on This Property
271 County Road 512, Divide · 6.12% FHA vs 6.5% conventional
$96
per month
$1,158
per year
$34,729
over 30 years
$34,729
interest saved
How gap financing works: The equity gap ($63,103) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($35,653 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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