Loan Comparison: 5.23% vs 6.5%
1353 Reynolds, Fort Lupton, CO 80621 · 3bd/3ba · $365,000
List Price
$365,000
Assumable Rate
5.23%
Remaining Balance
$345,745
Equity Gap
$19,255
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$19,255
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 5.23% + gap loan
$1,913/moAssumed loan: $1,905/mo
Gap financing: $8/mo
$279less per month with the assumable
Your Savings on This Property
1353 Reynolds, Fort Lupton · 5.23% FHA vs 6.5% conventional
$279
per month
$3,348
per year
$100,452
over 30 years
$100,452
interest saved
How gap financing works: The equity gap ($19,255) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($1,005 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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