Loan Comparison: 3.59% vs 6.5%
7765 Midnight Road, Peyton, CO 80831 · 5bd/3ba · $650,000
List Price
$650,000
Assumable Rate
3.59%
Remaining Balance
$110,188
Equity Gap
$539,812
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$539,812
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.59% (FHA)
Blended Rate: 6.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.59% + gap loan
$4,048/moAssumed loan: $500/mo
Gap financing: $3,547/mo
Your Savings on This Property
7765 Midnight Road, Peyton · 3.59% 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 ($539,812) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($507,312 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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