Loan Comparison: 2.74% vs 6.5%
201 Rick, Fort Collins, CO 80525 · 3bd/1ba · $390,000
List Price
$390,000
Assumable Rate
2.74%
Remaining Balance
$286,025
Equity Gap
$103,308
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$103,308
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 2.74% + gap loan
$1,811/moAssumed loan: $1,166/mo
Gap financing: $644/mo
$531less per month with the assumable
Your Savings on This Property
201 Rick, Fort Collins · 2.74% FHA vs 6.5% conventional
$531
per month
$6,375
per year
$191,248
over 30 years
$190,581
interest saved
How gap financing works: The equity gap ($103,308) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($83,808 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.