Loan Comparison: 3.06% vs 6.5%
1250 5th, Loveland, CO 80537 · 2bd/1ba · $399,000
List Price
$399,000
Assumable Rate
3.06%
Remaining Balance
$304,164
Equity Gap
$93,514
Loan Type
FHAAdjust Your Scenario
$19,950
$19,950$93,514
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 3.06% + gap loan
$1,858/moAssumed loan: $1,292/mo
Gap financing: $566/mo
$538less per month with the assumable
Your Savings on This Property
1250 5th, Loveland · 3.06% FHA vs 6.5% conventional
$538
per month
$6,456
per year
$193,672
over 30 years
$192,350
interest saved
How gap financing works: The equity gap ($93,514) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($73,564 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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