Loan Comparison: 2.89% vs 6.5%
3905 Windwood, Johnstown, CO 80534 · 2bd/3ba · $375,000
List Price
$375,000
Assumable Rate
2.89%
Remaining Balance
$290,989
Equity Gap
$83,340
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$83,340
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.89% + gap loan
$1,706/moAssumed loan: $1,210/mo
Gap financing: $497/mo
$545less per month with the assumable
Your Savings on This Property
3905 Windwood, Johnstown · 2.89% FHA vs 6.5% conventional
$545
per month
$6,546
per year
$196,371
over 30 years
$195,700
interest saved
How gap financing works: The equity gap ($83,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($64,590 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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