Loan Comparison: 4.05% vs 6.5%
4413 Rockcress, Evans, CO 80620 · 4bd/3ba · $465,000
List Price
$465,000
Assumable Rate
4.05%
Remaining Balance
$211,843
Equity Gap
$253,156
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$253,156
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (FHA)
Blended Rate: 6.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.05% + gap loan
$2,785/moAssumed loan: $1,017/mo
Gap financing: $1,768/mo
$7less per month with the assumable
Your Savings on This Property
4413 Rockcress, Evans · 4.05% FHA vs 6.5% conventional
$7
per month
$83
per year
$2,482
over 30 years
$2,481
interest saved
How gap financing works: The equity gap ($253,156) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($229,906 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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