Loan Comparison: 3.69% vs 6.5%
551 Walhalla, Fort Collins, CO 80524 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.69%
Remaining Balance
$291,016
Equity Gap
$258,983
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$258,983
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.69% + gap loan
$3,118/moAssumed loan: $1,338/mo
Gap financing: $1,780/mo
$185less per month with the assumable
Your Savings on This Property
551 Walhalla, Fort Collins · 3.69% FHA vs 6.5% conventional
$185
per month
$2,218
per year
$66,528
over 30 years
$66,527
interest saved
How gap financing works: The equity gap ($258,983) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($231,483 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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