Loan Comparison: 4.62% vs 6.5%
720 City Park, Fort Collins, CO 80521 · 2bd/2ba · $285,000
List Price
$285,000
Assumable Rate
4.62%
Remaining Balance
$37,115
Equity Gap
$247,483
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$247,483
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.62% (FHA)
Blended Rate: 7.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 4.62% + gap loan
$1,984/moAssumed loan: $191/mo
Gap financing: $1,793/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 ($247,483) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($233,233 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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