Loan Comparison: 5.23% vs 6.5%
3506 Montrose, Evans, CO 80620 · 3bd/1ba · $280,000
List Price
$280,000
Assumable Rate
5.23%
Remaining Balance
$55,767
Equity Gap
$246,233
Loan Type
FHAAdjust Your Scenario
$14,000
$14,000$246,233
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 7.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 5.23% + gap loan
$2,093/moAssumed loan: $307/mo
Gap financing: $1,786/mo
Your Savings on This Property
3506 Montrose, Evans · 5.23% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($246,233) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($232,233 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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