Loan Comparison: 4.37% vs 6.5%
2905 Neil Drive, Fort Collins, CO 80526 · 3bd/3ba · $354,900
List Price
$354,900
Assumable Rate
4.37%
Remaining Balance
$254,000
Equity Gap
$100,900
Loan Type
FHAAdjust Your Scenario
$17,745
$17,745$100,900
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,131/moAssumable @ 4.37% + gap loan
$1,849/moAssumed loan: $1,267/mo
Gap financing: $581/mo
$282less per month with the assumable
Your Savings on This Property
2905 Neil Drive, Fort Collins · 4.37% FHA vs 6.5% conventional
$282
per month
$3,386
per year
$101,585
over 30 years
$101,585
interest saved
How gap financing works: The equity gap ($100,900) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,745, 5% of purchase price) and a second mortgage for the rest ($83,155 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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