Loan Comparison: 3.07% vs 6.5%
118 Chipeta, Lochbuie, CO 80603 · 4bd/3ba · $505,000
List Price
$505,000
Assumable Rate
3.07%
Remaining Balance
$458,798
Equity Gap
$43,287
Loan Type
FHAAdjust Your Scenario
$25,250
$25,250$43,287
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 3.07% + gap loan
$2,090/moAssumed loan: $1,952/mo
Gap financing: $139/mo
$942less per month with the assumable
Your Savings on This Property
118 Chipeta, Lochbuie · 3.07% FHA vs 6.5% conventional
$942
per month
$11,304
per year
$339,114
over 30 years
$336,199
interest saved
How gap financing works: The equity gap ($43,287) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($18,037 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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