Loan Comparison: 4.07% vs 6.5%
1202 Moore, Gilcrest, CO 80623 · 4bd/1ba · $330,000
List Price
$330,000
Assumable Rate
4.07%
Remaining Balance
$177,295
Equity Gap
$160,803
Loan Type
FHAAdjust Your Scenario
$16,500
$16,500$160,803
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 6.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 4.07% + gap loan
$1,963/moAssumed loan: $854/mo
Gap financing: $1,110/mo
$18less per month with the assumable
Your Savings on This Property
1202 Moore, Gilcrest · 4.07% FHA vs 6.5% conventional
$18
per month
$220
per year
$6,611
over 30 years
$14,709
interest saved
How gap financing works: The equity gap ($160,803) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,500, 5% of purchase price) and a second mortgage for the rest ($144,303 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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