Loan Comparison: 2.81% vs 6.5%
413 Skyway, Fort Collins, CO 80525 · 3bd/3ba · $459,900
List Price
$459,900
Assumable Rate
2.81%
Remaining Balance
$335,918
Equity Gap
$123,981
Loan Type
FHAAdjust Your Scenario
$22,995
$22,995$123,981
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.81% + gap loan
$2,159/moAssumed loan: $1,382/mo
Gap financing: $776/mo
$603less per month with the assumable
Your Savings on This Property
413 Skyway, Fort Collins · 2.81% FHA vs 6.5% conventional
$603
per month
$7,236
per year
$217,075
over 30 years
$217,074
interest saved
How gap financing works: The equity gap ($123,981) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($100,986 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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