Loan Comparison: 2.84% vs 6.5%
7253 Shavano, Frederick, CO 80504 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.84%
Remaining Balance
$391,284
Equity Gap
$135,855
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$135,855
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.84% + gap loan
$2,459/moAssumed loan: $1,616/mo
Gap financing: $843/mo
$694less per month with the assumable
Your Savings on This Property
7253 Shavano, Frederick · 2.84% FHA vs 6.5% conventional
$694
per month
$8,323
per year
$249,687
over 30 years
$251,826
interest saved
How gap financing works: The equity gap ($135,855) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($109,605 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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