Loan Comparison: 3.5% vs 6.5%
459 Promontory Drive, Loveland, CO 80537 · 3bd/2ba · $615,000
List Price
$615,000
Assumable Rate
3.5%
Remaining Balance
$113,158
Equity Gap
$501,841
Loan Type
FHAAdjust Your Scenario
$30,750
$30,750$501,841
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (FHA)
Blended Rate: 6.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 3.5% + gap loan
$3,802/moAssumed loan: $508/mo
Gap financing: $3,294/mo
Your Savings on This Property
459 Promontory Drive, Loveland · 3.5% 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 ($501,841) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($471,091 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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