Loan Comparison: 2.74% vs 6.5%
562 Vicot, Fort Collins, CO 80524 · 4bd/3ba · $624,900
List Price
$624,900
Assumable Rate
2.74%
Remaining Balance
$419,238
Equity Gap
$201,803
Loan Type
FHAAdjust Your Scenario
$31,245
$31,245$201,803
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,752/moAssumable @ 2.74% + gap loan
$3,021/moAssumed loan: $1,709/mo
Gap financing: $1,311/mo
$732less per month with the assumable
Your Savings on This Property
562 Vicot, Fort Collins · 2.74% FHA vs 6.5% conventional
$732
per month
$8,779
per year
$263,368
over 30 years
$259,509
interest saved
How gap financing works: The equity gap ($201,803) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,245, 5% of purchase price) and a second mortgage for the rest ($170,558 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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