Loan Comparison: 3.57% vs 6.5%
7032 Woodrow, Fort Collins, CO 80525 · 4bd/4ba · $610,000
List Price
$610,000
Assumable Rate
3.57%
Remaining Balance
$245,909
Equity Gap
$362,017
Loan Type
FHAAdjust Your Scenario
$30,500
$30,500$362,017
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (FHA)
Blended Rate: 6.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 3.57% + gap loan
$3,663/moAssumed loan: $1,114/mo
Gap financing: $2,549/mo
Your Savings on This Property
7032 Woodrow, Fort Collins · 3.57% 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 ($362,017) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($331,517 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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