Loan Comparison: 4.98% vs 6.5%
3145 Alybar, Wellington, CO 80549 · 3bd/3ba · $385,000
List Price
$385,000
Assumable Rate
4.98%
Remaining Balance
$365,501
Equity Gap
$34,096
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$34,096
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 4.98% + gap loan
$2,072/moAssumed loan: $1,958/mo
Gap financing: $114/mo
$240less per month with the assumable
Your Savings on This Property
3145 Alybar, Wellington · 4.98% FHA vs 6.5% conventional
$240
per month
$2,880
per year
$86,405
over 30 years
$101,002
interest saved
How gap financing works: The equity gap ($34,096) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($14,846 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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