Loan Comparison: 2.94% vs 6.5%
3147 Alybar, Wellington, CO 80549 · 3bd/3ba · $370,000
List Price
$370,000
Assumable Rate
2.94%
Remaining Balance
$254,018
Equity Gap
$115,392
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$115,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 2.94% + gap loan
$1,808/moAssumed loan: $1,063/mo
Gap financing: $745/mo
$414less per month with the assumable
Your Savings on This Property
3147 Alybar, Wellington · 2.94% FHA vs 6.5% conventional
$414
per month
$4,967
per year
$149,024
over 30 years
$148,434
interest saved
How gap financing works: The equity gap ($115,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($96,892 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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