Loan Comparison: 4.62% vs 6.5%
720 City Park, Fort Collins, CO 80521 · 2bd/2ba · $295,000
List Price
$295,000
Assumable Rate
4.62%
Remaining Balance
$37,917
Equity Gap
$257,483
Loan Type
FHAAdjust Your Scenario
$14,750
$14,750$257,483
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.62% (FHA)
Blended Rate: 7.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 4.62% + gap loan
$2,061/moAssumed loan: $195/mo
Gap financing: $1,866/mo
Your Savings on This Property
720 City Park, Fort Collins · 4.62% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($257,483) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($242,733 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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