Loan Comparison: 2.98% vs 6.5%
11818 Asplund, Peyton, CO 80831 · 3bd/3ba · $397,000
List Price
$397,000
Assumable Rate
2.98%
Remaining Balance
$344,880
Equity Gap
$66,109
Loan Type
FHAAdjust Your Scenario
$19,850
$19,850$66,109
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,384/moAssumable @ 2.98% + gap loan
$1,806/moAssumed loan: $1,450/mo
Gap financing: $356/mo
$578less per month with the assumable
Your Savings on This Property
11818 Asplund, Peyton · 2.98% FHA vs 6.5% conventional
$578
per month
$6,934
per year
$208,023
over 30 years
$222,012
interest saved
How gap financing works: The equity gap ($66,109) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,850, 5% of purchase price) and a second mortgage for the rest ($46,259 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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