Loan Comparison: 3.02% vs 6.5%
7326 Village Meadows, Fountain, CO 80817 · 3bd/3ba · $395,000
List Price
$395,000
Assumable Rate
3.02%
Remaining Balance
$230,221
Equity Gap
$164,779
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$164,779
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.02% + gap loan
$2,088/moAssumed loan: $973/mo
Gap financing: $1,115/mo
$284less per month with the assumable
Your Savings on This Property
7326 Village Meadows, Fountain · 3.02% FHA vs 6.5% conventional
$284
per month
$3,403
per year
$102,089
over 30 years
$102,089
interest saved
How gap financing works: The equity gap ($164,779) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($145,029 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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