Loan Comparison: 2.81% vs 6.5%
413 Skyway, Fort Collins, CO 80525 · 3bd/3ba · $468,000
List Price
$468,000
Assumable Rate
2.81%
Remaining Balance
$337,467
Equity Gap
$130,533
Loan Type
FHAAdjust Your Scenario
$23,400
$23,400$130,533
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,810/moAssumable @ 2.81% + gap loan
$2,212/moAssumed loan: $1,388/mo
Gap financing: $824/mo
$598less per month with the assumable
Your Savings on This Property
413 Skyway, Fort Collins · 2.81% FHA vs 6.5% conventional
$598
per month
$7,176
per year
$215,275
over 30 years
$215,275
interest saved
How gap financing works: The equity gap ($130,533) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,400, 5% of purchase price) and a second mortgage for the rest ($107,133 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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