Loan Comparison: 3.72% vs 6.5%
1314 Saint Croix, Fort Collins, CO 80525 · 3bd/3ba · $625,000
List Price
$625,000
Assumable Rate
3.72%
Remaining Balance
$346,525
Equity Gap
$278,475
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$278,475
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 3.72% + gap loan
$3,500/moAssumed loan: $1,599/mo
Gap financing: $1,901/mo
$253less per month with the assumable
Your Savings on This Property
1314 Saint Croix, Fort Collins · 3.72% FHA vs 6.5% conventional
$253
per month
$3,036
per year
$91,094
over 30 years
$91,094
interest saved
How gap financing works: The equity gap ($278,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($247,225 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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