Loan Comparison: 2.98% vs 6.5%
11776 Spring, Northglenn, CO 80233 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
2.98%
Remaining Balance
$291,959
Equity Gap
$238,041
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$238,041
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.98% + gap loan
$2,885/moAssumed loan: $1,228/mo
Gap financing: $1,657/mo
Your Savings on This Property
11776 Spring, Northglenn · 2.98% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$14,121
interest saved
How gap financing works: The equity gap ($238,041) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($215,541 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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