Loan Comparison: 5.88% vs 6.5%
3937 Kenwood, Johnstown, CO 80534 · 3bd/3ba · $549,900
List Price
$549,900
Assumable Rate
5.88%
Remaining Balance
$471,738
Equity Gap
$77,657
Loan Type
FHAAdjust Your Scenario
$27,495
$27,495$77,657
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.88% (FHA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 5.88% + gap loan
$3,178/moAssumed loan: $2,792/mo
Gap financing: $386/mo
$124less per month with the assumable
Your Savings on This Property
3937 Kenwood, Johnstown · 5.88% FHA vs 6.5% conventional
$124
per month
$1,491
per year
$44,725
over 30 years
$44,220
interest saved
How gap financing works: The equity gap ($77,657) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($50,162 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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