Loan Comparison: 3.31% vs 6.5%
8200 Otis, Fort Collins, CO 80528 · 3bd/2ba · $375,000
List Price
$375,000
Assumable Rate
3.31%
Remaining Balance
$205,443
Equity Gap
$178,337
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$178,337
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.31% + gap loan
$2,128/moAssumed loan: $901/mo
Gap financing: $1,227/mo
$124less per month with the assumable
Your Savings on This Property
8200 Otis, Fort Collins · 3.31% FHA vs 6.5% conventional
$124
per month
$1,485
per year
$44,559
over 30 years
$53,339
interest saved
How gap financing works: The equity gap ($178,337) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($159,587 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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