Loan Comparison: 3.07% vs 6.5%
289 Holden, Johnstown, CO 80534 · 4bd/3ba · $595,000
List Price
$595,000
Assumable Rate
3.07%
Remaining Balance
$434,120
Equity Gap
$160,880
Loan Type
FHAAdjust Your Scenario
$29,750
$29,750$160,880
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 3.07% + gap loan
$2,855/moAssumed loan: $1,847/mo
Gap financing: $1,008/mo
$718less per month with the assumable
Your Savings on This Property
289 Holden, Johnstown · 3.07% FHA vs 6.5% conventional
$718
per month
$8,613
per year
$258,405
over 30 years
$258,405
interest saved
How gap financing works: The equity gap ($160,880) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($131,130 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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