Loan Comparison: 4.07% vs 6.5%
1202 Moore, Gilcrest, CO 80623 · 4bd/1ba · $325,000
List Price
$325,000
Assumable Rate
4.07%
Remaining Balance
$168,833
Equity Gap
$155,803
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$155,803
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 4.07% + gap loan
$1,886/moAssumed loan: $813/mo
Gap financing: $1,073/mo
$66less per month with the assumable
Your Savings on This Property
1202 Moore, Gilcrest · 4.07% FHA vs 6.5% conventional
$66
per month
$787
per year
$23,618
over 30 years
$23,254
interest saved
How gap financing works: The equity gap ($155,803) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($139,553 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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