Loan Comparison: 5.23% vs 6.5%
3319 Monte Christo, Evans, CO 80620 · 5bd/4ba · $505,000
List Price
$505,000
Assumable Rate
5.23%
Remaining Balance
$461,860
Equity Gap
$42,464
Loan Type
FHAAdjust Your Scenario
$25,250
$25,250$42,464
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 5.23% + gap loan
$2,677/moAssumed loan: $2,545/mo
Gap financing: $132/mo
$355less per month with the assumable
Your Savings on This Property
3319 Monte Christo, Evans · 5.23% FHA vs 6.5% conventional
$355
per month
$4,264
per year
$127,907
over 30 years
$127,231
interest saved
How gap financing works: The equity gap ($42,464) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($17,214 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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