Loan Comparison: 6.24% vs 6.5%
4050 Niobe Court, Loveland, CO 80538 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
6.24%
Remaining Balance
$482,189
Equity Gap
$42,810
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$42,810
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.24% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 6.24% + gap loan
$3,082/moAssumed loan: $2,966/mo
Gap financing: $116/mo
$71less per month with the assumable
Your Savings on This Property
4050 Niobe Court, Loveland · 6.24% FHA vs 6.5% conventional
$71
per month
$850
per year
$25,511
over 30 years
$25,510
interest saved
How gap financing works: The equity gap ($42,810) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($16,560 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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