Loan Comparison: 3.7% vs 6.5%
1526 Prairie Song, Longmont, CO 80504 · 4bd/3ba · $675,000
List Price
$675,000
Assumable Rate
3.7%
Remaining Balance
$244,702
Equity Gap
$431,357
Loan Type
FHAAdjust Your Scenario
$33,750
$33,750$431,357
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (FHA)
Blended Rate: 6.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.7% + gap loan
$4,184/moAssumed loan: $1,126/mo
Gap financing: $3,057/mo
Your Savings on This Property
1526 Prairie Song, Longmont · 3.7% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($431,357) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($397,607 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1526 Prairie Song.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.