Loan Comparison: 3.62% vs 6.5%
3323 Wildflower, Wellington, CO 80549 · 3bd/2ba · $495,000
List Price
$495,000
Assumable Rate
3.62%
Remaining Balance
$306,110
Equity Gap
$188,889
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$188,889
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.62% + gap loan
$2,657/moAssumed loan: $1,395/mo
Gap financing: $1,262/mo
$315less per month with the assumable
Your Savings on This Property
3323 Wildflower, Wellington · 3.62% FHA vs 6.5% conventional
$315
per month
$3,781
per year
$113,420
over 30 years
$113,419
interest saved
How gap financing works: The equity gap ($188,889) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($164,139 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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