Loan Comparison: 3.45% vs 6.5%
412 Park, Fort Collins, CO 80525 · 5bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.45%
Remaining Balance
$378,026
Equity Gap
$217,705
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$217,705
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.45% + gap loan
$3,149/moAssumed loan: $1,687/mo
Gap financing: $1,463/mo
$153less per month with the assumable
Your Savings on This Property
412 Park, Fort Collins · 3.45% FHA vs 6.5% conventional
$153
per month
$1,837
per year
$55,106
over 30 years
$100,837
interest saved
How gap financing works: The equity gap ($217,705) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($190,205 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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