Loan Comparison: 3.9% vs 6.5%
3103 Cody, Evans, CO 80620 · 5bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.9%
Remaining Balance
$235,523
Equity Gap
$238,888
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$238,888
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.9% + gap loan
$2,765/moAssumed loan: $1,111/mo
Gap financing: $1,654/mo
$87less per month with the assumable
Your Savings on This Property
3103 Cody, Evans · 3.9% FHA vs 6.5% conventional
$87
per month
$1,045
per year
$31,354
over 30 years
$30,765
interest saved
How gap financing works: The equity gap ($238,888) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($215,138 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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