Loan Comparison: 4.37% vs 6.5%
2905 Neil, Fort Collins, CO 80526 · 2bd/2ba · $394,900
List Price
$394,900
Assumable Rate
4.37%
Remaining Balance
$256,695
Equity Gap
$138,205
Loan Type
FHAAdjust Your Scenario
$19,745
$19,745$138,205
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 5.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,371/moAssumable @ 4.37% + gap loan
$2,192/moAssumed loan: $1,281/mo
Gap financing: $911/mo
$179less per month with the assumable
Your Savings on This Property
2905 Neil, Fort Collins · 4.37% FHA vs 6.5% conventional
$179
per month
$2,154
per year
$64,619
over 30 years
$64,619
interest saved
How gap financing works: The equity gap ($138,205) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,745, 5% of purchase price) and a second mortgage for the rest ($118,460 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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