Loan Comparison: 6.77% vs 6.5%
2598 Doe Ridge Way, Johnstown, CO 80534 · 5bd/5ba · $720,000
List Price
$720,000
Assumable Rate
6.77%
Remaining Balance
$579,687
Equity Gap
$140,313
Loan Type
FHAAdjust Your Scenario
$36,000
$36,000$140,313
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.77% (FHA)
Blended Rate: 6.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,323/moAssumable @ 6.77% + gap loan
$4,497/moAssumed loan: $3,768/mo
Gap financing: $729/mo
Your Savings on This Property
2598 Doe Ridge Way, Johnstown · 6.77% 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 ($140,313) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,000, 5% of purchase price) and a second mortgage for the rest ($104,313 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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