Loan Comparison: 5.22% vs 6.5%
2264 Darla, Loveland, CO 80537 · 4bd/2ba · $500,000
List Price
$500,000
Assumable Rate
5.22%
Remaining Balance
$464,174
Equity Gap
$71,041
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$71,041
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 5.22% + gap loan
$2,909/moAssumed loan: $2,555/mo
Gap financing: $354/mo
$94less per month with the assumable
Your Savings on This Property
2264 Darla, Loveland · 5.22% FHA vs 6.5% conventional
$94
per month
$1,125
per year
$33,746
over 30 years
$68,961
interest saved
How gap financing works: The equity gap ($71,041) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($46,041 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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