Loan Comparison: 3.1% vs 6.5%
3660 Abbotswood, Johnstown, CO 80534 · 3bd/3ba · $518,000
List Price
$518,000
Assumable Rate
3.1%
Remaining Balance
$443,566
Equity Gap
$74,434
Loan Type
FHAAdjust Your Scenario
$25,900
$25,900$74,434
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,110/moAssumable @ 3.1% + gap loan
$2,267/moAssumed loan: $1,894/mo
Gap financing: $373/mo
$843less per month with the assumable
Your Savings on This Property
3660 Abbotswood, Johnstown · 3.1% FHA vs 6.5% conventional
$843
per month
$10,117
per year
$303,524
over 30 years
$303,524
interest saved
How gap financing works: The equity gap ($74,434) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,900, 5% of purchase price) and a second mortgage for the rest ($48,534 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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