Loan Comparison: 4.55% vs 6.5%
2142 Meadow, Longmont, CO 80501 · 3bd/3ba · $379,900
List Price
$379,900
Assumable Rate
4.55%
Remaining Balance
$87,066
Equity Gap
$292,509
Loan Type
FHAAdjust Your Scenario
$18,995
$18,995$292,509
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.55% (FHA)
Blended Rate: 7.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,281/moAssumable @ 4.55% + gap loan
$2,547/moAssumed loan: $444/mo
Gap financing: $2,103/mo
Your Savings on This Property
2142 Meadow, Longmont · 4.55% 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 ($292,509) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,995, 5% of purchase price) and a second mortgage for the rest ($273,514 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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