Loan Comparison: 3.23% vs 6.5%
10903 Larson, Northglenn, CO 80233 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.23%
Remaining Balance
$275,135
Equity Gap
$174,865
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$174,865
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.23% + gap loan
$2,366/moAssumed loan: $1,194/mo
Gap financing: $1,172/mo
$336less per month with the assumable
Your Savings on This Property
10903 Larson, Northglenn · 3.23% FHA vs 6.5% conventional
$336
per month
$4,034
per year
$121,014
over 30 years
$121,014
interest saved
How gap financing works: The equity gap ($174,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($152,365 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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