Loan Comparison: 2.18% vs 6.5%
706 Filbert, Loveland, CO 80538 · 5bd/5ba · $699,000
List Price
$699,000
Assumable Rate
2.18%
Remaining Balance
$241,326
Equity Gap
$457,674
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$457,674
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.18% (FHA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 2.18% + gap loan
$4,164/moAssumed loan: $914/mo
Gap financing: $3,250/mo
$33less per month with the assumable
Your Savings on This Property
706 Filbert, Loveland · 2.18% FHA vs 6.5% conventional
$33
per month
$396
per year
$11,880
over 30 years
$11,880
interest saved
How gap financing works: The equity gap ($457,674) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($422,724 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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