Loan Comparison: 2.89% vs 6.5%
3905 Windwood, Johnstown, CO 80534 · 2bd/3ba · $395,000
List Price
$395,000
Assumable Rate
2.89%
Remaining Balance
$290,989
Equity Gap
$104,010
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$104,010
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 2.89% + gap loan
$1,858/moAssumed loan: $1,210/mo
Gap financing: $648/mo
$514less per month with the assumable
Your Savings on This Property
3905 Windwood, Johnstown · 2.89% FHA vs 6.5% conventional
$514
per month
$6,172
per year
$185,156
over 30 years
$185,155
interest saved
How gap financing works: The equity gap ($104,010) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($84,260 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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