Loan Comparison: 2.84% vs 6.5%
3102 Alybar, Wellington, CO 80549 · 3bd/3ba · $369,900
List Price
$369,900
Assumable Rate
2.84%
Remaining Balance
$269,392
Equity Gap
$100,508
Loan Type
FHAAdjust Your Scenario
$18,495
$18,495$100,508
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 2.84% + gap loan
$1,743/moAssumed loan: $1,113/mo
Gap financing: $631/mo
$478less per month with the assumable
Your Savings on This Property
3102 Alybar, Wellington · 2.84% FHA vs 6.5% conventional
$478
per month
$5,734
per year
$172,028
over 30 years
$172,028
interest saved
How gap financing works: The equity gap ($100,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($82,013 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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