Loan Comparison: 4.14% vs 6.5%
3630 Teakwood, Johnstown, CO 80534 · 3bd/3ba · $469,000
List Price
$469,000
Assumable Rate
4.14%
Remaining Balance
$317,336
Equity Gap
$150,314
Loan Type
FHAAdjust Your Scenario
$23,450
$23,450$150,314
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,816/moAssumable @ 4.14% + gap loan
$2,516/moAssumed loan: $1,541/mo
Gap financing: $975/mo
$300less per month with the assumable
Your Savings on This Property
3630 Teakwood, Johnstown · 4.14% FHA vs 6.5% conventional
$300
per month
$3,600
per year
$107,989
over 30 years
$106,639
interest saved
How gap financing works: The equity gap ($150,314) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,450, 5% of purchase price) and a second mortgage for the rest ($126,864 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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