Loan Comparison: 3.2% vs 6.5%
1242 Sherman Drive, Dacono, CO 80601 · 4bd/2ba · $479,900
List Price
$479,900
Assumable Rate
3.2%
Remaining Balance
$354,382
Equity Gap
$125,518
Loan Type
FHAAdjust Your Scenario
$23,995
$23,995$125,518
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.2% (FHA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 3.2% + gap loan
$2,242/moAssumed loan: $1,533/mo
Gap financing: $710/mo
$639less per month with the assumable
Your Savings on This Property
1242 Sherman Drive, Dacono · 3.2% FHA vs 6.5% conventional
$639
per month
$7,670
per year
$230,105
over 30 years
$230,105
interest saved
How gap financing works: The equity gap ($125,518) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,995, 5% of purchase price) and a second mortgage for the rest ($101,523 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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