Loan Comparison: 2.68% vs 6.5%
762 Stonebridge, Longmont, CO 80503 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
2.68%
Remaining Balance
$313,945
Equity Gap
$147,522
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$147,522
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.68% + gap loan
$2,228/moAssumed loan: $1,270/mo
Gap financing: $957/mo
$535less per month with the assumable
Your Savings on This Property
762 Stonebridge, Longmont · 2.68% FHA vs 6.5% conventional
$535
per month
$6,416
per year
$192,466
over 30 years
$193,933
interest saved
How gap financing works: The equity gap ($147,522) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($124,522 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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