Loan Comparison: 4.63% vs 6.5%
2309 Chama, Loveland, CO 80538 · 3bd/1ba · $255,000
List Price
$255,000
Assumable Rate
4.63%
Remaining Balance
$237,963
Equity Gap
$15,560
Loan Type
FHAAdjust Your Scenario
$12,750
$12,750$15,560
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.63% (FHA)
Blended Rate: 4.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,531/moAssumable @ 4.63% + gap loan
$1,246/moAssumed loan: $1,224/mo
Gap financing: $22/mo
$285less per month with the assumable
Your Savings on This Property
2309 Chama, Loveland · 4.63% FHA vs 6.5% conventional
$285
per month
$3,425
per year
$102,746
over 30 years
$101,269
interest saved
How gap financing works: The equity gap ($15,560) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,750, 5% of purchase price) and a second mortgage for the rest ($2,810 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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