Loan Comparison: 3.1% vs 6.5%
6603 Antigua, Fort Collins, CO 80525 · 2bd/2ba · $339,950
List Price
$339,950
Assumable Rate
3.1%
Remaining Balance
$312,103
Equity Gap
$27,187
Loan Type
FHAAdjust Your Scenario
$16,998
$16,998$27,187
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,041/moAssumable @ 3.1% + gap loan
$1,411/moAssumed loan: $1,333/mo
Gap financing: $78/mo
$630less per month with the assumable
Your Savings on This Property
6603 Antigua, Fort Collins · 3.1% FHA vs 6.5% conventional
$630
per month
$7,562
per year
$226,873
over 30 years
$226,213
interest saved
How gap financing works: The equity gap ($27,187) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,998, 5% of purchase price) and a second mortgage for the rest ($10,189 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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