Loan Comparison: 4.17% vs 6.5%
3599 Barkwood, Johnstown, CO 80534 · 2bd/3ba · $395,000
List Price
$395,000
Assumable Rate
4.17%
Remaining Balance
$352,920
Equity Gap
$41,459
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$41,459
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 4.17% + gap loan
$1,887/moAssumed loan: $1,720/mo
Gap financing: $167/mo
$485less per month with the assumable
Your Savings on This Property
3599 Barkwood, Johnstown · 4.17% FHA vs 6.5% conventional
$485
per month
$5,823
per year
$174,689
over 30 years
$174,068
interest saved
How gap financing works: The equity gap ($41,459) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($21,709 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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