Loan Comparison: 6.26% vs 6.5%
11224 Berry Farm Road, Fountain, CO 80817 · 4bd/4ba · $369,900
List Price
$369,900
Assumable Rate
6.26%
Remaining Balance
$332,568
Equity Gap
$37,332
Loan Type
FHAAdjust Your Scenario
$18,495
$18,495$37,332
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.26% (FHA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 6.26% + gap loan
$2,182/moAssumed loan: $2,050/mo
Gap financing: $132/mo
$40less per month with the assumable
Your Savings on This Property
11224 Berry Farm Road, Fountain · 6.26% FHA vs 6.5% conventional
$40
per month
$475
per year
$14,244
over 30 years
$14,244
interest saved
How gap financing works: The equity gap ($37,332) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($18,837 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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