Loan Comparison: 3.23% vs 6.5%
6105 Southfork, Peyton, CO 80831 · 4bd/2ba · $458,000
List Price
$458,000
Assumable Rate
3.23%
Remaining Balance
$351,515
Equity Gap
$148,300
Loan Type
FHAAdjust Your Scenario
$22,900
$22,900$148,300
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,750/moAssumable @ 3.23% + gap loan
$2,490/moAssumed loan: $1,526/mo
Gap financing: $964/mo
$260less per month with the assumable
Your Savings on This Property
6105 Southfork, Peyton · 3.23% FHA vs 6.5% conventional
$260
per month
$3,119
per year
$93,582
over 30 years
$135,397
interest saved
How gap financing works: The equity gap ($148,300) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,900, 5% of purchase price) and a second mortgage for the rest ($125,400 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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