Loan Comparison: 5.42% vs 6.5%
1956 Dove Creek, Loveland, CO 80538 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
5.42%
Remaining Balance
$163,710
Equity Gap
$295,849
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$295,849
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.42% (FHA)
Blended Rate: 7.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 5.42% + gap loan
$3,042/moAssumed loan: $921/mo
Gap financing: $2,121/mo
Your Savings on This Property
1956 Dove Creek, Loveland · 5.42% 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 ($295,849) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($275,849 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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