Loan Comparison: 3.06% vs 6.5%
5433 Bauer, Longmont, CO 80504 · 3bd/3ba · $522,000
List Price
$522,000
Assumable Rate
3.06%
Remaining Balance
$389,322
Equity Gap
$131,819
Loan Type
FHAAdjust Your Scenario
$26,100
$26,100$131,819
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,134/moAssumable @ 3.06% + gap loan
$2,467/moAssumed loan: $1,654/mo
Gap financing: $813/mo
$668less per month with the assumable
Your Savings on This Property
5433 Bauer, Longmont · 3.06% FHA vs 6.5% conventional
$668
per month
$8,010
per year
$240,306
over 30 years
$239,447
interest saved
How gap financing works: The equity gap ($131,819) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,100, 5% of purchase price) and a second mortgage for the rest ($105,719 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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