Loan Comparison: 3.8% vs 6.5%
107 Willow, Lochbuie, CO 80603 · 4bd/2ba · $399,999
List Price
$399,999
Assumable Rate
3.8%
Remaining Balance
$194,761
Equity Gap
$205,664
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$205,664
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.8% + gap loan
$2,335/moAssumed loan: $908/mo
Gap financing: $1,428/mo
$67less per month with the assumable
Your Savings on This Property
107 Willow, Lochbuie · 3.8% FHA vs 6.5% conventional
$67
per month
$801
per year
$24,031
over 30 years
$24,457
interest saved
How gap financing works: The equity gap ($205,664) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($185,664 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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