Loan Comparison: 6.63% vs 6.5%
11854 Turney Road, Peyton, CO 80831 · 3bd/2ba · $599,900
List Price
$599,900
Assumable Rate
6.63%
Remaining Balance
$17,714
Equity Gap
$582,185
Loan Type
FHAAdjust Your Scenario
$29,995
$29,995$582,185
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.63% (FHA)
Blended Rate: 7.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 6.63% + gap loan
$3,974/moAssumed loan: $113/mo
Gap financing: $3,861/mo
Your Savings on This Property
11854 Turney Road, Peyton · 6.63% 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 ($582,185) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($552,190 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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