Loan Comparison: 3.07% vs 6.5%
1920 Hillside, Windsor, CO 80550 · 4bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.07%
Remaining Balance
$416,218
Equity Gap
$102,906
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$102,906
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.07% + gap loan
$2,362/moAssumed loan: $1,771/mo
Gap financing: $591/mo
$761less per month with the assumable
Your Savings on This Property
1920 Hillside, Windsor · 3.07% FHA vs 6.5% conventional
$761
per month
$9,126
per year
$273,791
over 30 years
$272,915
interest saved
How gap financing works: The equity gap ($102,906) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($76,906 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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