Loan Comparison: 3% vs 6.5%
7089 Yampa River Heights, Fountain, CO 80817 · 3bd/3ba · $305,000
List Price
$305,000
Assumable Rate
3%
Remaining Balance
$17,726
Equity Gap
$287,273
Loan Type
FHAAdjust Your Scenario
$15,250
$15,250$287,273
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (FHA)
Blended Rate: 7.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 3% + gap loan
$1,977/moAssumed loan: $75/mo
Gap financing: $1,902/mo
Your Savings on This Property
7089 Yampa River Heights, Fountain · 3% 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 ($287,273) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($272,023 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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