Loan Comparison: 2.87% vs 6.5%
7478 Bentwater, Fountain, CO 80817 · 3bd/3ba · $390,000
List Price
$390,000
Assumable Rate
2.87%
Remaining Balance
$315,307
Equity Gap
$72,593
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$72,593
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 2.87% + gap loan
$1,716/moAssumed loan: $1,307/mo
Gap financing: $408/mo
$626less per month with the assumable
Your Savings on This Property
7478 Bentwater, Fountain · 2.87% FHA vs 6.5% conventional
$626
per month
$7,515
per year
$225,443
over 30 years
$223,343
interest saved
How gap financing works: The equity gap ($72,593) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($53,093 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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