Loan Comparison: 3.69% vs 6.5%
507 11th, Loveland, CO 80537 · 3bd/1ba · $460,000
List Price
$460,000
Assumable Rate
3.69%
Remaining Balance
$260,030
Equity Gap
$198,825
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$198,825
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.69% + gap loan
$2,547/moAssumed loan: $1,195/mo
Gap financing: $1,352/mo
$215less per month with the assumable
Your Savings on This Property
507 11th, Loveland · 3.69% FHA vs 6.5% conventional
$215
per month
$2,577
per year
$77,325
over 30 years
$76,180
interest saved
How gap financing works: The equity gap ($198,825) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($175,825 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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