Loan Comparison: 6.93% vs 6.5%
909 Ponderosa Drive, Severance, CO 80550 · 5bd/4ba · $440,000
List Price
$440,000
Assumable Rate
6.93%
Remaining Balance
$331,807
Equity Gap
$108,193
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$108,193
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.93% (FHA)
Blended Rate: 7.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 6.93% + gap loan
$2,795/moAssumed loan: $2,192/mo
Gap financing: $603/mo
Your Savings on This Property
909 Ponderosa Drive, Severance · 6.93% 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 ($108,193) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($86,193 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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