Loan Comparison: 2.81% vs 6.5%
615 Juniper, Fort Collins, CO 80526 · 3bd/2ba · $480,000
List Price
$480,000
Assumable Rate
2.81%
Remaining Balance
$303,486
Equity Gap
$176,514
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$176,514
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.81% + gap loan
$2,421/moAssumed loan: $1,249/mo
Gap financing: $1,173/mo
$461less per month with the assumable
Your Savings on This Property
615 Juniper, Fort Collins · 2.81% FHA vs 6.5% conventional
$461
per month
$5,531
per year
$165,927
over 30 years
$165,927
interest saved
How gap financing works: The equity gap ($176,514) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($152,514 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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