Loan Comparison: 2.98% vs 6.5%
1022 Mason, Fort Collins, CO 80524 · 2bd/1ba · $418,999
List Price
$418,999
Assumable Rate
2.98%
Remaining Balance
$261,457
Equity Gap
$158,610
Loan Type
FHAAdjust Your Scenario
$20,950
$20,950$158,610
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,516/moAssumable @ 2.98% + gap loan
$2,158/moAssumed loan: $1,099/mo
Gap financing: $1,058/mo
$358less per month with the assumable
Your Savings on This Property
1022 Mason, Fort Collins · 2.98% FHA vs 6.5% conventional
$358
per month
$4,296
per year
$128,865
over 30 years
$129,933
interest saved
How gap financing works: The equity gap ($158,610) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,950, 5% of purchase price) and a second mortgage for the rest ($137,660 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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