Loan Comparison: 2.74% vs 6.5%
6714 Rose Creek, Fort Collins, CO 80525 · 2bd/1ba · $285,000
List Price
$285,000
Assumable Rate
2.74%
Remaining Balance
$188,076
Equity Gap
$96,923
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$96,923
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 2.74% + gap loan
$1,402/moAssumed loan: $767/mo
Gap financing: $636/mo
$309less per month with the assumable
Your Savings on This Property
6714 Rose Creek, Fort Collins · 2.74% FHA vs 6.5% conventional
$309
per month
$3,706
per year
$111,180
over 30 years
$111,179
interest saved
How gap financing works: The equity gap ($96,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($82,673 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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