Loan Comparison: 3.25% vs 6.5%
1510 Stoneham Street, Superior, CO 80304 · 5bd/4ba · $798,000
List Price
$798,000
Assumable Rate
3.25%
Remaining Balance
$180,103
Equity Gap
$617,897
Loan Type
FHAAdjust Your Scenario
$39,900
$39,900$617,897
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (FHA)
Blended Rate: 6.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,792/moAssumable @ 3.25% + gap loan
$4,825/moAssumed loan: $784/mo
Gap financing: $4,041/mo
Your Savings on This Property
1510 Stoneham Street, Superior · 3.25% 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 ($617,897) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,900, 5% of purchase price) and a second mortgage for the rest ($577,997 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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