Loan Comparison: 3.07% vs 6.5%
1225 Baker, Longmont, CO 80501 · 4bd/4ba · $415,000
List Price
$415,000
Assumable Rate
3.07%
Remaining Balance
$334,788
Equity Gap
$76,626
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$76,626
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.07% + gap loan
$1,854/moAssumed loan: $1,424/mo
Gap financing: $430/mo
$638less per month with the assumable
Your Savings on This Property
1225 Baker, Longmont · 3.07% FHA vs 6.5% conventional
$638
per month
$7,658
per year
$229,730
over 30 years
$226,144
interest saved
How gap financing works: The equity gap ($76,626) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($55,876 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1225 Baker.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.