Loan Comparison: 2.81% vs 6.5%
3312 Tupelo, Johnstown, CO 80534 · 5bd/4ba · $549,000
List Price
$549,000
Assumable Rate
2.81%
Remaining Balance
$365,657
Equity Gap
$180,840
Loan Type
FHAAdjust Your Scenario
$27,450
$27,450$180,840
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 2.81% + gap loan
$2,684/moAssumed loan: $1,504/mo
Gap financing: $1,179/mo
$613less per month with the assumable
Your Savings on This Property
3312 Tupelo, Johnstown · 2.81% FHA vs 6.5% conventional
$613
per month
$7,352
per year
$220,574
over 30 years
$218,071
interest saved
How gap financing works: The equity gap ($180,840) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($153,390 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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