Loan Comparison: 3.69% vs 6.5%
507 11th, Loveland, CO 80537 · 3bd/1ba · $480,000
List Price
$480,000
Assumable Rate
3.69%
Remaining Balance
$260,603
Equity Gap
$218,825
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$218,825
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 3.69% + gap loan
$2,696/moAssumed loan: $1,198/mo
Gap financing: $1,498/mo
$186less per month with the assumable
Your Savings on This Property
507 11th, Loveland · 3.69% FHA vs 6.5% conventional
$186
per month
$2,234
per year
$67,016
over 30 years
$66,444
interest saved
How gap financing works: The equity gap ($218,825) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($194,825 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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