Loan Comparison: 3.07% vs 6.5%
6368 Black Hills, Loveland, CO 80538 · 3bd/4ba · $549,900
List Price
$549,900
Assumable Rate
3.07%
Remaining Balance
$319,740
Equity Gap
$230,160
Loan Type
FHAAdjust Your Scenario
$27,495
$27,495$230,160
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.07% + gap loan
$2,918/moAssumed loan: $1,360/mo
Gap financing: $1,558/mo
$383less per month with the assumable
Your Savings on This Property
6368 Black Hills, Loveland · 3.07% FHA vs 6.5% conventional
$383
per month
$4,602
per year
$138,060
over 30 years
$138,060
interest saved
How gap financing works: The equity gap ($230,160) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($202,665 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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