Loan Comparison: 3.06% vs 6.5%
5433 Bauer, Longmont, CO 80504 · 3bd/3ba · $538,000
List Price
$538,000
Assumable Rate
3.06%
Remaining Balance
$415,081
Equity Gap
$147,819
Loan Type
FHAAdjust Your Scenario
$26,900
$26,900$147,819
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,230/moAssumable @ 3.06% + gap loan
$2,693/moAssumed loan: $1,763/mo
Gap financing: $930/mo
$537less per month with the assumable
Your Savings on This Property
5433 Bauer, Longmont · 3.06% FHA vs 6.5% conventional
$537
per month
$6,447
per year
$193,420
over 30 years
$218,320
interest saved
How gap financing works: The equity gap ($147,819) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,900, 5% of purchase price) and a second mortgage for the rest ($120,919 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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