Loan Comparison: 4.22% vs 6.5%
901-903 Kelly, Loveland, CO 80537 · 3bd/2ba · $480,000
List Price
$480,000
Assumable Rate
4.22%
Remaining Balance
$300,983
Equity Gap
$179,016
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$179,016
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.22% (FHA)
Blended Rate: 5.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 4.22% + gap loan
$2,667/moAssumed loan: $1,475/mo
Gap financing: $1,192/mo
$215less per month with the assumable
Your Savings on This Property
901-903 Kelly, Loveland · 4.22% FHA vs 6.5% conventional
$215
per month
$2,579
per year
$77,370
over 30 years
$77,369
interest saved
How gap financing works: The equity gap ($179,016) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($155,016 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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