Loan Comparison: 5.23% vs 6.5%
1600 Crestmore, Fort Collins, CO 80521 · 3bd/1ba · $489,000
List Price
$489,000
Assumable Rate
5.23%
Remaining Balance
$388,728
Equity Gap
$99,694
Loan Type
FHAAdjust Your Scenario
$24,450
$24,450$99,694
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,936/moAssumable @ 5.23% + gap loan
$2,720/moAssumed loan: $2,142/mo
Gap financing: $579/mo
$216less per month with the assumable
Your Savings on This Property
1600 Crestmore, Fort Collins · 5.23% FHA vs 6.5% conventional
$216
per month
$2,591
per year
$77,743
over 30 years
$77,165
interest saved
How gap financing works: The equity gap ($99,694) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,450, 5% of purchase price) and a second mortgage for the rest ($75,244 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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