Loan Comparison: 3.62% vs 6.5%
7608 Barn Owl, Fountain, CO 80817 · 3bd/2ba · $395,000
List Price
$395,000
Assumable Rate
3.62%
Remaining Balance
$176,945
Equity Gap
$222,551
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$222,551
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 6.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.62% + gap loan
$2,366/moAssumed loan: $806/mo
Gap financing: $1,559/mo
$6less per month with the assumable
Your Savings on This Property
7608 Barn Owl, Fountain · 3.62% FHA vs 6.5% conventional
$6
per month
$72
per year
$2,163
over 30 years
$6,659
interest saved
How gap financing works: The equity gap ($222,551) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($202,801 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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