Loan Comparison: 3.125% vs 6.5%
11116 Pearl, Northglenn, CO 80233 · 4bd/2ba · $440,000
List Price
$440,000
Assumable Rate
3.125%
Remaining Balance
$263,644
Equity Gap
$176,356
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$176,356
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.125% (FHA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.125% + gap loan
$2,316/moAssumed loan: $1,129/mo
Gap financing: $1,187/mo
$326less per month with the assumable
Your Savings on This Property
11116 Pearl, Northglenn · 3.125% FHA vs 6.5% conventional
$326
per month
$3,910
per year
$117,286
over 30 years
$117,286
interest saved
How gap financing works: The equity gap ($176,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($154,356 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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