Loan Comparison: 2.89% vs 6.5%
7536 Sandy Springs, Fountain, CO 80817 · 3bd/3ba · $335,000
List Price
$335,000
Assumable Rate
2.89%
Remaining Balance
$190,090
Equity Gap
$144,910
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$144,910
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 2.89% + gap loan
$1,776/moAssumed loan: $790/mo
Gap financing: $985/mo
$236less per month with the assumable
Your Savings on This Property
7536 Sandy Springs, Fountain · 2.89% FHA vs 6.5% conventional
$236
per month
$2,831
per year
$84,932
over 30 years
$84,932
interest saved
How gap financing works: The equity gap ($144,910) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($128,160 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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