Loan Comparison: 5.42% vs 6.5%
630 High Tea, Fountain, CO 80817 · 4bd/4ba · $348,000
List Price
$348,000
Assumable Rate
5.42%
Remaining Balance
$97,201
Equity Gap
$250,731
Loan Type
FHAAdjust Your Scenario
$17,400
$17,400$250,731
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.42% (FHA)
Blended Rate: 7.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,090/moAssumable @ 5.42% + gap loan
$2,341/moAssumed loan: $547/mo
Gap financing: $1,794/mo
Your Savings on This Property
630 High Tea, Fountain · 5.42% 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 ($250,731) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,400, 5% of purchase price) and a second mortgage for the rest ($233,331 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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