Loan Comparison: 5.68% vs 6.5%
877 Maid Marian Drive, Divide, CO 80814 · 4bd/3ba · $362,000
List Price
$362,000
Assumable Rate
5.68%
Remaining Balance
$71,370
Equity Gap
$290,629
Loan Type
FHAAdjust Your Scenario
$18,100
$18,100$290,629
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.68% (FHA)
Blended Rate: 7.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,174/moAssumable @ 5.68% + gap loan
$2,319/moAssumed loan: $413/mo
Gap financing: $1,906/mo
Your Savings on This Property
877 Maid Marian Drive, Divide · 5.68% 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 ($290,629) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,100, 5% of purchase price) and a second mortgage for the rest ($272,529 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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