Loan Comparison: 3.07% vs 6.5%
118 Chipeta, Lochbuie, CO 80603 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
3.07%
Remaining Balance
$460,743
Equity Gap
$53,287
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$53,287
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.07% + gap loan
$2,172/moAssumed loan: $1,960/mo
Gap financing: $212/mo
$921less per month with the assumable
Your Savings on This Property
118 Chipeta, Lochbuie · 3.07% FHA vs 6.5% conventional
$921
per month
$11,049
per year
$331,455
over 30 years
$330,485
interest saved
How gap financing works: The equity gap ($53,287) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($27,537 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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