Loan Comparison: 2.74% vs 6.5%
562 Vicot, Fort Collins, CO 80524 · 4bd/3ba · $619,900
List Price
$619,900
Assumable Rate
2.74%
Remaining Balance
$463,321
Equity Gap
$202,604
Loan Type
FHAAdjust Your Scenario
$30,995
$30,995$202,604
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,722/moAssumable @ 2.74% + gap loan
$3,209/moAssumed loan: $1,889/mo
Gap financing: $1,320/mo
$514less per month with the assumable
Your Savings on This Property
562 Vicot, Fort Collins · 2.74% FHA vs 6.5% conventional
$514
per month
$6,165
per year
$184,947
over 30 years
$230,972
interest saved
How gap financing works: The equity gap ($202,604) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,995, 5% of purchase price) and a second mortgage for the rest ($171,609 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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