Loan Comparison: 4.98% vs 6.5%
817 Garfield, Loveland, CO 80537 · 2bd/1ba · $419,900
List Price
$419,900
Assumable Rate
4.98%
Remaining Balance
$368,229
Equity Gap
$51,671
Loan Type
FHAAdjust Your Scenario
$20,995
$20,995$51,671
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 4.98% + gap loan
$2,208/moAssumed loan: $1,972/mo
Gap financing: $236/mo
$313less per month with the assumable
Your Savings on This Property
817 Garfield, Loveland · 4.98% FHA vs 6.5% conventional
$313
per month
$3,759
per year
$112,768
over 30 years
$112,768
interest saved
How gap financing works: The equity gap ($51,671) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($30,676 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.
🏠
Back to This Listing
View photos, details, and request a showing for 817 Garfield.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.