Loan Comparison: 7.44% vs 6.5%
1121 Ridge Road, Divide, CO 80814 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
7.44%
Remaining Balance
$458,482
Equity Gap
$166,517
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$166,517
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.44% (FHA)
Blended Rate: 7.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 7.44% + gap loan
$4,133/moAssumed loan: $3,187/mo
Gap financing: $946/mo
Your Savings on This Property
1121 Ridge Road, Divide · 7.44% 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 ($166,517) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($135,267 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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