Loan Comparison: 4.98% vs 6.5%
229 4th, Fort Lupton, CO 80621 · 3bd/2ba · $415,000
List Price
$415,000
Assumable Rate
4.98%
Remaining Balance
$361,245
Equity Gap
$53,755
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$53,755
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 4.98% + gap loan
$2,189/moAssumed loan: $1,935/mo
Gap financing: $254/mo
$303less per month with the assumable
Your Savings on This Property
229 4th, Fort Lupton · 4.98% FHA vs 6.5% conventional
$303
per month
$3,640
per year
$109,195
over 30 years
$109,195
interest saved
How gap financing works: The equity gap ($53,755) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($33,005 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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