Loan Comparison: 4.22% vs 6.5%
115 Cherry, Fountain, CO 80817 · 4bd/2ba · $335,000
List Price
$335,000
Assumable Rate
4.22%
Remaining Balance
$203,247
Equity Gap
$131,028
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$131,028
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.22% (FHA)
Blended Rate: 5.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 4.22% + gap loan
$1,875/moAssumed loan: $996/mo
Gap financing: $879/mo
$137less per month with the assumable
Your Savings on This Property
115 Cherry, Fountain · 4.22% FHA vs 6.5% conventional
$137
per month
$1,639
per year
$49,165
over 30 years
$48,440
interest saved
How gap financing works: The equity gap ($131,028) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($114,278 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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