Loan Comparison: 3.95% vs 6.5%
1720 32nd, Evans, CO 80620 · 4bd/3ba · $355,000
List Price
$355,000
Assumable Rate
3.95%
Remaining Balance
$180,369
Equity Gap
$174,631
Loan Type
FHAAdjust Your Scenario
$17,750
$17,750$174,631
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.95% (FHA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.95% + gap loan
$2,062/moAssumed loan: $856/mo
Gap financing: $1,206/mo
$69less per month with the assumable
Your Savings on This Property
1720 32nd, Evans · 3.95% FHA vs 6.5% conventional
$69
per month
$833
per year
$25,003
over 30 years
$25,003
interest saved
How gap financing works: The equity gap ($174,631) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($156,881 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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