Loan Comparison: 5.52% vs 6.5%
1045 Montview, Fort Collins, CO 80521 · 4bd/2ba · $540,000
List Price
$540,000
Assumable Rate
5.52%
Remaining Balance
$408,712
Equity Gap
$131,288
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$131,288
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 5.52% + gap loan
$3,128/moAssumed loan: $2,326/mo
Gap financing: $802/mo
$115less per month with the assumable
Your Savings on This Property
1045 Montview, Fort Collins · 5.52% FHA vs 6.5% conventional
$115
per month
$1,378
per year
$41,354
over 30 years
$41,354
interest saved
How gap financing works: The equity gap ($131,288) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($104,288 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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