Loan Comparison: 3.68% vs 6.5%
1333 Garfield, Loveland, CO 80537 · 2bd/2ba · $395,000
List Price
$395,000
Assumable Rate
3.68%
Remaining Balance
$90,378
Equity Gap
$304,621
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$304,621
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.68% (FHA)
Blended Rate: 7.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.68% + gap loan
$2,605/moAssumed loan: $415/mo
Gap financing: $2,190/mo
Your Savings on This Property
1333 Garfield, Loveland · 3.68% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($304,621) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($284,871 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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