Loan Comparison: 4.17% vs 6.5%
3599 Barkwood, Johnstown, CO 80534 · 2bd/3ba · $392,900
List Price
$392,900
Assumable Rate
4.17%
Remaining Balance
$352,298
Equity Gap
$40,601
Loan Type
FHAAdjust Your Scenario
$19,645
$19,645$40,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,359/moAssumable @ 4.17% + gap loan
$1,878/moAssumed loan: $1,717/mo
Gap financing: $161/mo
$481less per month with the assumable
Your Savings on This Property
3599 Barkwood, Johnstown · 4.17% FHA vs 6.5% conventional
$481
per month
$5,777
per year
$173,325
over 30 years
$173,324
interest saved
How gap financing works: The equity gap ($40,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,645, 5% of purchase price) and a second mortgage for the rest ($20,956 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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