Loan Comparison: 6.65% vs 6.5%
1483 Moraine Valley Drive, Severance, CO 80550 · 3bd/2ba · $648,000
List Price
$648,000
Assumable Rate
6.65%
Remaining Balance
$565,509
Equity Gap
$82,490
Loan Type
FHAAdjust Your Scenario
$32,400
$32,400$82,490
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.65% (FHA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,891/moAssumable @ 6.65% + gap loan
$3,981/moAssumed loan: $3,630/mo
Gap financing: $350/mo
Your Savings on This Property
1483 Moraine Valley Drive, Severance · 6.65% 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 ($82,490) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,400, 5% of purchase price) and a second mortgage for the rest ($50,090 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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