Loan Comparison: 2.79% vs 6.5%
9124 Fontaine Street, Federal Heights, CO 80260 · 7bd/3ba · $385,000
List Price
$385,000
Assumable Rate
2.79%
Remaining Balance
$283,547
Equity Gap
$101,452
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$101,452
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (FHA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 2.79% + gap loan
$1,738/moAssumed loan: $1,164/mo
Gap financing: $575/mo
$573less per month with the assumable
Your Savings on This Property
9124 Fontaine Street, Federal Heights · 2.79% FHA vs 6.5% conventional
$573
per month
$6,881
per year
$206,441
over 30 years
$206,440
interest saved
How gap financing works: The equity gap ($101,452) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($82,202 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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