Loan Comparison: 4.14% vs 6.5%
3630 Teakwood, Johnstown, CO 80534 · 3bd/3ba · $475,000
List Price
$475,000
Assumable Rate
4.14%
Remaining Balance
$318,012
Equity Gap
$156,987
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$156,987
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 4.14% + gap loan
$2,568/moAssumed loan: $1,544/mo
Gap financing: $1,024/mo
$284less per month with the assumable
Your Savings on This Property
3630 Teakwood, Johnstown · 4.14% FHA vs 6.5% conventional
$284
per month
$3,405
per year
$102,137
over 30 years
$102,136
interest saved
How gap financing works: The equity gap ($156,987) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($133,237 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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