Loan Comparison: 3.45% vs 6.5%
380 County, Louisville, CO 80027 · 4bd/3ba · $599,000
List Price
$599,000
Assumable Rate
3.45%
Remaining Balance
$909,759
Equity Gap
$213,243
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$213,243
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 3.45% + gap loan
$5,469/moAssumed loan: $4,060/mo
Gap financing: $1,409/mo
Your Savings on This Property
380 County, Louisville · 3.45% 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 ($213,243) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($183,293 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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