Loan Comparison: 2.75% vs 6.5%
11560 Community Center, Northglenn, CO 80233 · 2bd/2ba · $310,000
List Price
$310,000
Assumable Rate
2.75%
Remaining Balance
$143,012
Equity Gap
$166,569
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$166,569
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (FHA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 2.75% + gap loan
$1,745/moAssumed loan: $584/mo
Gap financing: $1,162/mo
$116less per month with the assumable
Your Savings on This Property
11560 Community Center, Northglenn · 2.75% FHA vs 6.5% conventional
$116
per month
$1,392
per year
$41,766
over 30 years
$41,347
interest saved
How gap financing works: The equity gap ($166,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($151,069 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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