Loan Comparison: 5.13% vs 6.5%
3217 Da Vinci, Loveland, CO 80538 · 3bd/3ba · $399,900
List Price
$399,900
Assumable Rate
5.13%
Remaining Balance
$233,059
Equity Gap
$166,493
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$166,493
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.13% (FHA)
Blended Rate: 6.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 5.13% + gap loan
$2,396/moAssumed loan: $1,270/mo
Gap financing: $1,126/mo
$5less per month with the assumable
Your Savings on This Property
3217 Da Vinci, Loveland · 5.13% FHA vs 6.5% conventional
$5
per month
$61
per year
$1,844
over 30 years
$1,496
interest saved
How gap financing works: The equity gap ($166,493) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($146,498 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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