Loan Comparison: 2.84% vs 6.5%
6709 Autumn Ridge, Fort Collins, CO 80525 · 2bd/2ba · $294,000
List Price
$294,000
Assumable Rate
2.84%
Remaining Balance
$22,705
Equity Gap
$271,244
Loan Type
FHAAdjust Your Scenario
$14,700
$14,700$271,244
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 8.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,765/moAssumable @ 2.84% + gap loan
$2,066/moAssumed loan: $94/mo
Gap financing: $1,973/mo
Your Savings on This Property
6709 Autumn Ridge, Fort Collins · 2.84% 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 ($271,244) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,700, 5% of purchase price) and a second mortgage for the rest ($256,544 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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