Loan Comparison: 3.8% vs 6.5%
3000 112th, Northglenn, CO 80233 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.8%
Remaining Balance
$264,918
Equity Gap
$160,082
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$160,082
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.8% + gap loan
$2,302/moAssumed loan: $1,234/mo
Gap financing: $1,067/mo
$250less per month with the assumable
Your Savings on This Property
3000 112th, Northglenn · 3.8% FHA vs 6.5% conventional
$250
per month
$3,001
per year
$90,026
over 30 years
$90,026
interest saved
How gap financing works: The equity gap ($160,082) 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 ($138,832 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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