Loan Comparison: 2.87% vs 6.5%
1617 Northcroft Drive, Windsor, CO 80550 · 4bd/3ba · $449,900
List Price
$449,900
Assumable Rate
2.87%
Remaining Balance
$387,775
Equity Gap
$62,124
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$62,124
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.87% + gap loan
$1,885/moAssumed loan: $1,608/mo
Gap financing: $277/mo
$817less per month with the assumable
Your Savings on This Property
1617 Northcroft Drive, Windsor · 2.87% FHA vs 6.5% conventional
$817
per month
$9,799
per year
$293,971
over 30 years
$293,970
interest saved
How gap financing works: The equity gap ($62,124) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($39,629 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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