Loan Comparison: 2.81% vs 6.5%
3518 Valleywood, Johnstown, CO 80534 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
2.81%
Remaining Balance
$334,215
Equity Gap
$90,785
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$90,785
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.81% + gap loan
$1,910/moAssumed loan: $1,375/mo
Gap financing: $535/mo
$642less per month with the assumable
Your Savings on This Property
3518 Valleywood, Johnstown · 2.81% FHA vs 6.5% conventional
$642
per month
$7,707
per year
$231,214
over 30 years
$231,214
interest saved
How gap financing works: The equity gap ($90,785) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($69,535 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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