Loan Comparison: 3.08% vs 6.5%
6145 Bluestem, Frederick, CO 80530 · 3bd/2ba · $285,000
List Price
$285,000
Assumable Rate
3.08%
Remaining Balance
$170,727
Equity Gap
$114,273
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$114,273
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 3.08% + gap loan
$1,496/moAssumed loan: $727/mo
Gap financing: $769/mo
$215less per month with the assumable
Your Savings on This Property
6145 Bluestem, Frederick · 3.08% FHA vs 6.5% conventional
$215
per month
$2,581
per year
$77,420
over 30 years
$77,420
interest saved
How gap financing works: The equity gap ($114,273) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($100,023 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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