Loan Comparison: 2.89% vs 6.5%
1801 Hull, Fort Collins, CO 80526 · 3bd/2ba · $510,000
List Price
$510,000
Assumable Rate
2.89%
Remaining Balance
$345,679
Equity Gap
$238,689
Loan Type
FHAAdjust Your Scenario
$25,500
$25,500$238,689
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.89% + gap loan
$3,076/moAssumed loan: $1,437/mo
Gap financing: $1,639/mo
Your Savings on This Property
1801 Hull, Fort Collins · 2.89% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$69,386
interest saved
How gap financing works: The equity gap ($238,689) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($213,189 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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