Loan Comparison: 2.89% vs 6.5%
11763 Sedge, Peyton, CO 80831 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
2.89%
Remaining Balance
$291,399
Equity Gap
$133,600
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$133,600
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.89% + gap loan
$2,075/moAssumed loan: $1,211/mo
Gap financing: $864/mo
$477less per month with the assumable
Your Savings on This Property
11763 Sedge, Peyton · 2.89% FHA vs 6.5% conventional
$477
per month
$5,721
per year
$171,637
over 30 years
$171,636
interest saved
How gap financing works: The equity gap ($133,600) 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 ($112,350 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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