Loan Comparison: 5.41% vs 6.5%
1425 Hart, Elizabeth, CO 80107 · 5bd/4ba · $680,000
List Price
$680,000
Assumable Rate
5.41%
Remaining Balance
$584,210
Equity Gap
$95,790
Loan Type
FHAAdjust Your Scenario
$34,000
$34,000$95,790
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 5.41% + gap loan
$3,759/moAssumed loan: $3,284/mo
Gap financing: $475/mo
$324less per month with the assumable
Your Savings on This Property
1425 Hart, Elizabeth · 5.41% FHA vs 6.5% conventional
$324
per month
$3,887
per year
$116,597
over 30 years
$116,597
interest saved
How gap financing works: The equity gap ($95,790) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($61,790 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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