Loan Comparison: 4.05% vs 6.5%
2404 Marina, Evans, CO 80620 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
4.05%
Remaining Balance
$232,461
Equity Gap
$258,345
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$258,345
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (FHA)
Blended Rate: 6.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 4.05% + gap loan
$2,930/moAssumed loan: $1,117/mo
Gap financing: $1,813/mo
Your Savings on This Property
2404 Marina, Evans · 4.05% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($258,345) 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 ($235,845 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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