Loan Comparison: 2.68% vs 6.5%
4763 Taft, Morrison, CO 80465 · 4bd/3ba · $490,000
List Price
$490,000
Assumable Rate
2.68%
Remaining Balance
$359,846
Equity Gap
$130,154
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$130,154
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.68% + gap loan
$2,268/moAssumed loan: $1,456/mo
Gap financing: $812/mo
$674less per month with the assumable
Your Savings on This Property
4763 Taft, Morrison · 2.68% FHA vs 6.5% conventional
$674
per month
$8,090
per year
$242,697
over 30 years
$242,697
interest saved
How gap financing works: The equity gap ($130,154) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($105,654 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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