Loan Comparison: 2.9% vs 6.5%
4347 Bluffview, Loveland, CO 80537 · 2bd/3ba · $629,900
List Price
$629,900
Assumable Rate
2.9%
Remaining Balance
$409,390
Equity Gap
$214,320
Loan Type
FHAAdjust Your Scenario
$31,495
$31,495$214,320
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,782/moAssumable @ 2.9% + gap loan
$3,110/moAssumed loan: $1,704/mo
Gap financing: $1,406/mo
$673less per month with the assumable
Your Savings on This Property
4347 Bluffview, Loveland · 2.9% FHA vs 6.5% conventional
$673
per month
$8,071
per year
$242,120
over 30 years
$235,930
interest saved
How gap financing works: The equity gap ($214,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,495, 5% of purchase price) and a second mortgage for the rest ($182,825 at 8.5%). 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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