Loan Comparison: 3.69% vs 6.5%
507 11th, Loveland, CO 80537 · 3bd/1ba · $490,000
List Price
$490,000
Assumable Rate
3.69%
Remaining Balance
$261,174
Equity Gap
$228,825
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$228,825
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.69% + gap loan
$2,772/moAssumed loan: $1,201/mo
Gap financing: $1,571/mo
$171less per month with the assumable
Your Savings on This Property
507 11th, Loveland · 3.69% FHA vs 6.5% conventional
$171
per month
$2,046
per year
$61,391
over 30 years
$61,390
interest saved
How gap financing works: The equity gap ($228,825) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($204,325 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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