Loan Comparison: 3.07% vs 6.5%
218 Cowbell, Berthoud, CO 80513 · 4bd/3ba · $529,000
List Price
$529,000
Assumable Rate
3.07%
Remaining Balance
$462,909
Equity Gap
$66,090
Loan Type
FHAAdjust Your Scenario
$26,450
$26,450$66,090
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,176/moAssumable @ 3.07% + gap loan
$2,274/moAssumed loan: $1,969/mo
Gap financing: $305/mo
$902less per month with the assumable
Your Savings on This Property
218 Cowbell, Berthoud · 3.07% FHA vs 6.5% conventional
$902
per month
$10,830
per year
$324,899
over 30 years
$324,898
interest saved
How gap financing works: The equity gap ($66,090) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,450, 5% of purchase price) and a second mortgage for the rest ($39,640 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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