Loan Comparison: 2.68% vs 6.5%
3202 Loomis Lake, Loveland, CO 80538 · 5bd/3ba · $635,000
List Price
$635,000
Assumable Rate
2.68%
Remaining Balance
$416,815
Equity Gap
$214,280
Loan Type
FHAAdjust Your Scenario
$31,750
$31,750$214,280
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 2.68% + gap loan
$3,090/moAssumed loan: $1,686/mo
Gap financing: $1,403/mo
$723less per month with the assumable
Your Savings on This Property
3202 Loomis Lake, Loveland · 2.68% FHA vs 6.5% conventional
$723
per month
$8,679
per year
$260,373
over 30 years
$256,468
interest saved
How gap financing works: The equity gap ($214,280) 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 ($182,530 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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