Loan Comparison: 4.98% vs 6.5%
2410 Pineywoods, Mead, CO 80542 · 4bd/3ba · $619,000
List Price
$619,000
Assumable Rate
4.98%
Remaining Balance
$460,763
Equity Gap
$158,237
Loan Type
FHAAdjust Your Scenario
$30,950
$30,950$158,237
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,717/moAssumable @ 4.98% + gap loan
$3,447/moAssumed loan: $2,468/mo
Gap financing: $979/mo
$270less per month with the assumable
Your Savings on This Property
2410 Pineywoods, Mead · 4.98% FHA vs 6.5% conventional
$270
per month
$3,244
per year
$97,309
over 30 years
$97,309
interest saved
How gap financing works: The equity gap ($158,237) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,950, 5% of purchase price) and a second mortgage for the rest ($127,287 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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