Loan Comparison: 4.07% vs 6.5%
8505 Mummy Range Drive, Fort Collins, CO 80528 · 4bd/4ba · $215,000
List Price
$215,000
Assumable Rate
4.07%
Remaining Balance
$147,788
Equity Gap
$67,211
Loan Type
FHAAdjust Your Scenario
$10,750
$10,750$67,211
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,291/moAssumable @ 4.07% + gap loan
$1,106/moAssumed loan: $712/mo
Gap financing: $395/mo
$185less per month with the assumable
Your Savings on This Property
8505 Mummy Range Drive, Fort Collins · 4.07% FHA vs 6.5% conventional
$185
per month
$2,216
per year
$66,483
over 30 years
$66,482
interest saved
How gap financing works: The equity gap ($67,211) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,750, 5% of purchase price) and a second mortgage for the rest ($56,461 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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