Loan Comparison: 3.69% vs 6.5%
551 Walhalla, Fort Collins, CO 80524 · 3bd/3ba · $539,000
List Price
$539,000
Assumable Rate
3.69%
Remaining Balance
$310,213
Equity Gap
$248,619
Loan Type
FHAAdjust Your Scenario
$26,950
$26,950$248,619
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 3.69% + gap loan
$3,131/moAssumed loan: $1,426/mo
Gap financing: $1,704/mo
$106less per month with the assumable
Your Savings on This Property
551 Walhalla, Fort Collins · 3.69% FHA vs 6.5% conventional
$106
per month
$1,271
per year
$38,145
over 30 years
$57,977
interest saved
How gap financing works: The equity gap ($248,619) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($221,669 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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