Loan Comparison: 2.6% vs 6.5%
108-110 Hankins, Loveland, CO 80537 · 4bd/2ba · $480,000
List Price
$480,000
Assumable Rate
2.6%
Remaining Balance
$138,745
Equity Gap
$341,254
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$341,254
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.6% (FHA)
Blended Rate: 6.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.6% + gap loan
$2,995/moAssumed loan: $555/mo
Gap financing: $2,439/mo
Your Savings on This Property
108-110 Hankins, Loveland · 2.6% 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 ($341,254) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($317,254 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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