Loan Comparison: 3.88% vs 6.5%
2516 Lanyon Drive, Longmont, CO 80501 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
3.88%
Remaining Balance
$291,693
Equity Gap
$283,307
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$283,307
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.88% (FHA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.88% + gap loan
$3,152/moAssumed loan: $1,372/mo
Gap financing: $1,780/mo
$300less per month with the assumable
Your Savings on This Property
2516 Lanyon Drive, Longmont · 3.88% FHA vs 6.5% conventional
$300
per month
$3,603
per year
$108,104
over 30 years
$108,104
interest saved
How gap financing works: The equity gap ($283,307) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($254,557 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2516 Lanyon Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.