Loan Comparison: 2.9% vs 6.5%
4347 Bluffview, Loveland, CO 80537 · 2bd/3ba · $635,000
List Price
$635,000
Assumable Rate
2.9%
Remaining Balance
$410,281
Equity Gap
$224,719
Loan Type
FHAAdjust Your Scenario
$31,750
$31,750$224,719
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 2.9% + gap loan
$3,191/moAssumed loan: $1,708/mo
Gap financing: $1,484/mo
$621less per month with the assumable
Your Savings on This Property
4347 Bluffview, Loveland · 2.9% FHA vs 6.5% conventional
$621
per month
$7,458
per year
$223,730
over 30 years
$223,730
interest saved
How gap financing works: The equity gap ($224,719) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($192,969 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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