Loan Comparison: 3.95% vs 6.5%
1720 32nd, Evans, CO 80620 · 4bd/3ba · $370,000
List Price
$370,000
Assumable Rate
3.95%
Remaining Balance
$180,799
Equity Gap
$188,771
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$188,771
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.95% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.95% + gap loan
$2,167/moAssumed loan: $858/mo
Gap financing: $1,309/mo
$55less per month with the assumable
Your Savings on This Property
1720 32nd, Evans · 3.95% FHA vs 6.5% conventional
$55
per month
$654
per year
$19,629
over 30 years
$19,199
interest saved
How gap financing works: The equity gap ($188,771) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($170,271 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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