Loan Comparison: 5.13% vs 6.5%
3217 Da Vinci, Loveland, CO 80538 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
5.13%
Remaining Balance
$234,099
Equity Gap
$181,593
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$181,593
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.13% (FHA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 5.13% + gap loan
$2,512/moAssumed loan: $1,275/mo
Gap financing: $1,237/mo
Your Savings on This Property
3217 Da Vinci, Loveland · 5.13% 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 ($181,593) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($160,843 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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