Loan Comparison: 3.07% vs 6.5%
218 Cowbell, Berthoud, CO 80513 · 4bd/3ba · $555,000
List Price
$555,000
Assumable Rate
3.07%
Remaining Balance
$483,012
Equity Gap
$89,137
Loan Type
FHAAdjust Your Scenario
$27,750
$27,750$89,137
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 3.07% + gap loan
$2,527/moAssumed loan: $2,055/mo
Gap financing: $472/mo
$806less per month with the assumable
Your Savings on This Property
218 Cowbell, Berthoud · 3.07% FHA vs 6.5% conventional
$806
per month
$9,671
per year
$290,119
over 30 years
$307,268
interest saved
How gap financing works: The equity gap ($89,137) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($61,387 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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