Loan Comparison: 6.01% vs 6.5%
4389 Martinson Drive, Loveland, CO 80537 · 3bd/3ba · $640,000
List Price
$640,000
Assumable Rate
6.01%
Remaining Balance
$519,015
Equity Gap
$120,984
Loan Type
FHAAdjust Your Scenario
$32,000
$32,000$120,984
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.01% (FHA)
Blended Rate: 6.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 6.01% + gap loan
$3,737/moAssumed loan: $3,115/mo
Gap financing: $622/mo
$106less per month with the assumable
Your Savings on This Property
4389 Martinson Drive, Loveland · 6.01% FHA vs 6.5% conventional
$106
per month
$1,268
per year
$38,048
over 30 years
$38,047
interest saved
How gap financing works: The equity gap ($120,984) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($88,984 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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