Loan Comparison: 4.17% vs 6.5%
802 Heschel, Fort Collins, CO 80524 · 2bd/3ba · $455,000
List Price
$455,000
Assumable Rate
4.17%
Remaining Balance
$255,796
Equity Gap
$199,204
Loan Type
FHAAdjust Your Scenario
$22,750
$22,750$199,204
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 4.17% + gap loan
$2,603/moAssumed loan: $1,246/mo
Gap financing: $1,357/mo
$129less per month with the assumable
Your Savings on This Property
802 Heschel, Fort Collins · 4.17% FHA vs 6.5% conventional
$129
per month
$1,547
per year
$46,413
over 30 years
$46,413
interest saved
How gap financing works: The equity gap ($199,204) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($176,454 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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