Loan Comparison: 3.62% vs 6.5%
10 Ollie, Woodland Park, CO 80863 · 4bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.62%
Remaining Balance
$327,587
Equity Gap
$298,542
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$298,542
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.62% + gap loan
$3,577/moAssumed loan: $1,493/mo
Gap financing: $2,084/mo
Your Savings on This Property
10 Ollie, Woodland Park · 3.62% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($298,542) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($271,042 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.