Loan Comparison: 3.14% vs 6.5%
4347 Bluffview Drive, Loveland, CO 80537 · 4bd/3ba · $600,000
List Price
$600,000
Assumable Rate
3.14%
Remaining Balance
$404,122
Equity Gap
$195,878
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$195,878
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.14% (FHA)
Blended Rate: 4.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 3.14% + gap loan
$2,894/moAssumed loan: $1,734/mo
Gap financing: $1,160/mo
$708less per month with the assumable
Your Savings on This Property
4347 Bluffview Drive, Loveland · 3.14% FHA vs 6.5% conventional
$708
per month
$8,502
per year
$255,055
over 30 years
$255,055
interest saved
How gap financing works: The equity gap ($195,878) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($165,878 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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