Loan Comparison: 3.45% vs 6.5%
3737 Landings, Fort Collins, CO 80525 · 1bd/1ba · $235,000
List Price
$235,000
Assumable Rate
3.45%
Remaining Balance
$88,027
Equity Gap
$173,566
Loan Type
FHAAdjust Your Scenario
$11,750
$11,750$173,566
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 3.45% + gap loan
$1,637/moAssumed loan: $393/mo
Gap financing: $1,244/mo
Your Savings on This Property
3737 Landings, Fort Collins · 3.45% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($173,566) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($161,816 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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