Loan Comparison: 3.08% vs 6.5%
730 22nd, Loveland, CO 80537 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
3.08%
Remaining Balance
$338,751
Equity Gap
$95,633
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$95,633
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.08% + gap loan
$2,024/moAssumed loan: $1,443/mo
Gap financing: $582/mo
$377less per month with the assumable
Your Savings on This Property
730 22nd, Loveland · 3.08% FHA vs 6.5% conventional
$377
per month
$4,522
per year
$135,656
over 30 years
$170,140
interest saved
How gap financing works: The equity gap ($95,633) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($75,638 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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