Loan Comparison: 2.83% vs 6.5%
327 Welch, Berthoud, CO 80513 · 4bd/2ba · $550,000
List Price
$550,000
Assumable Rate
2.83%
Remaining Balance
$442,740
Equity Gap
$146,817
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$146,817
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.83% + gap loan
$2,744/moAssumed loan: $1,826/mo
Gap financing: $917/mo
$559less per month with the assumable
Your Savings on This Property
327 Welch, Berthoud · 2.83% FHA vs 6.5% conventional
$559
per month
$6,706
per year
$201,185
over 30 years
$240,742
interest saved
How gap financing works: The equity gap ($146,817) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($119,317 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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