Loan Comparison: 3.45% vs 6.5%
2445 Windrow, Fort Collins, CO 80525 · 2bd/2ba · $349,900
List Price
$349,900
Assumable Rate
3.45%
Remaining Balance
$250,442
Equity Gap
$99,458
Loan Type
FHAAdjust Your Scenario
$17,495
$17,495$99,458
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,101/moAssumable @ 3.45% + gap loan
$1,748/moAssumed loan: $1,118/mo
Gap financing: $630/mo
$353less per month with the assumable
Your Savings on This Property
2445 Windrow, Fort Collins · 3.45% FHA vs 6.5% conventional
$353
per month
$4,238
per year
$127,146
over 30 years
$127,146
interest saved
How gap financing works: The equity gap ($99,458) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,495, 5% of purchase price) and a second mortgage for the rest ($81,963 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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