Loan Comparison: 3.23% vs 6.5%
327 Eisenhower, Loveland, CO 80537 · 4bd/2ba · $350,000
List Price
$350,000
Assumable Rate
3.23%
Remaining Balance
$236,943
Equity Gap
$114,087
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$114,087
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.23% + gap loan
$1,771/moAssumed loan: $1,029/mo
Gap financing: $743/mo
$330less per month with the assumable
Your Savings on This Property
327 Eisenhower, Loveland · 3.23% FHA vs 6.5% conventional
$330
per month
$3,964
per year
$118,931
over 30 years
$119,961
interest saved
How gap financing works: The equity gap ($114,087) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($96,587 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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