Loan Comparison: 2.78% vs 6.5%
19610 Birdseye View, Peyton, CO 80831 · 6bd/4ba · $699,000
List Price
$699,000
Assumable Rate
2.78%
Remaining Balance
$331,141
Equity Gap
$367,859
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$367,859
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (FHA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.78% + gap loan
$3,685/moAssumed loan: $1,357/mo
Gap financing: $2,328/mo
$512less per month with the assumable
Your Savings on This Property
19610 Birdseye View, Peyton · 2.78% FHA vs 6.5% conventional
$512
per month
$6,149
per year
$184,456
over 30 years
$184,456
interest saved
How gap financing works: The equity gap ($367,859) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($332,909 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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