Loan Comparison: 3.23% vs 6.5%
1739 Collyer, Longmont, CO 80501 · 2bd/1ba · $425,000
List Price
$425,000
Assumable Rate
3.23%
Remaining Balance
$278,171
Equity Gap
$146,203
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$146,203
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.23% + gap loan
$2,168/moAssumed loan: $1,208/mo
Gap financing: $961/mo
$384less per month with the assumable
Your Savings on This Property
1739 Collyer, Longmont · 3.23% FHA vs 6.5% conventional
$384
per month
$4,604
per year
$138,106
over 30 years
$137,480
interest saved
How gap financing works: The equity gap ($146,203) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($124,953 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1739 Collyer.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.