Loan Comparison: 3.45% vs 6.5%
380 County, Louisville, CO 80027 · 4bd/3ba · $674,000
List Price
$674,000
Assumable Rate
3.45%
Remaining Balance
$387,457
Equity Gap
$286,543
Loan Type
FHAAdjust Your Scenario
$33,700
$33,700$286,543
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,047/moAssumable @ 3.45% + gap loan
$3,673/moAssumed loan: $1,729/mo
Gap financing: $1,944/mo
$374less per month with the assumable
Your Savings on This Property
380 County, Louisville · 3.45% FHA vs 6.5% conventional
$374
per month
$4,487
per year
$134,614
over 30 years
$134,614
interest saved
How gap financing works: The equity gap ($286,543) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,700, 5% of purchase price) and a second mortgage for the rest ($252,843 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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