Loan Comparison: 4.07% vs 6.5%
1202 Moore, Gilcrest, CO 80623 · 4bd/1ba · $300,000
List Price
$300,000
Assumable Rate
4.07%
Remaining Balance
$168,104
Equity Gap
$130,803
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$130,803
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4.07% + gap loan
$1,700/moAssumed loan: $809/mo
Gap financing: $890/mo
$102less per month with the assumable
Your Savings on This Property
1202 Moore, Gilcrest · 4.07% FHA vs 6.5% conventional
$102
per month
$1,219
per year
$36,582
over 30 years
$35,489
interest saved
How gap financing works: The equity gap ($130,803) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($115,803 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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