Loan Comparison: 6.35% vs 6.5%
3648 Holmes Lane, Johnstown, CO 80534 · 5bd/4ba · $590,000
List Price
$590,000
Assumable Rate
6.35%
Remaining Balance
$517,863
Equity Gap
$72,136
Loan Type
FHAAdjust Your Scenario
$29,500
$29,500$72,136
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (FHA)
Blended Rate: 6.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 6.35% + gap loan
$3,520/moAssumed loan: $3,222/mo
Gap financing: $298/mo
$22less per month with the assumable
Your Savings on This Property
3648 Holmes Lane, Johnstown · 6.35% FHA vs 6.5% conventional
$22
per month
$268
per year
$8,026
over 30 years
$8,025
interest saved
How gap financing works: The equity gap ($72,136) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($42,636 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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