Loan Comparison: 3.45% vs 6.5%
3051 Sage Creek, Fort Collins, CO 80528 · 3bd/4ba · $420,000
List Price
$420,000
Assumable Rate
3.45%
Remaining Balance
$374,978
Equity Gap
$44,284
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$44,284
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.45% + gap loan
$1,852/moAssumed loan: $1,673/mo
Gap financing: $179/mo
$670less per month with the assumable
Your Savings on This Property
3051 Sage Creek, Fort Collins · 3.45% FHA vs 6.5% conventional
$670
per month
$8,035
per year
$241,037
over 30 years
$240,299
interest saved
How gap financing works: The equity gap ($44,284) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($23,284 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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