Loan Comparison: 4.17% vs 6.5%
2977 8th, Loveland, CO 80537 · 3bd/2ba · $465,000
List Price
$465,000
Assumable Rate
4.17%
Remaining Balance
$402,672
Equity Gap
$62,327
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$62,327
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.17% + gap loan
$2,263/moAssumed loan: $1,962/mo
Gap financing: $300/mo
$530less per month with the assumable
Your Savings on This Property
2977 8th, Loveland · 4.17% FHA vs 6.5% conventional
$530
per month
$6,355
per year
$190,656
over 30 years
$190,655
interest saved
How gap financing works: The equity gap ($62,327) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($39,077 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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