Loan Comparison: 2.94% vs 6.5%
3147 Alybar, Wellington, CO 80549 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
2.94%
Remaining Balance
$300,106
Equity Gap
$120,392
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$120,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 2.94% + gap loan
$2,037/moAssumed loan: $1,256/mo
Gap financing: $782/mo
$215less per month with the assumable
Your Savings on This Property
3147 Alybar, Wellington · 2.94% FHA vs 6.5% conventional
$215
per month
$2,576
per year
$77,269
over 30 years
$122,767
interest saved
How gap financing works: The equity gap ($120,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($101,642 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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