Loan Comparison: 3.75% vs 6.5%
1350 Masters, Woodland Park, CO 80863 · 4bd/4ba · $849,900
List Price
$849,900
Assumable Rate
3.75%
Remaining Balance
$769,979
Equity Gap
$79,920
Loan Type
FHAAdjust Your Scenario
$42,495
$42,495$79,920
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 3.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 3.75% + gap loan
$3,854/moAssumed loan: $3,566/mo
Gap financing: $288/mo
$1,250less per month with the assumable
Your Savings on This Property
1350 Masters, Woodland Park · 3.75% FHA vs 6.5% conventional
$1,250
per month
$14,996
per year
$449,888
over 30 years
$449,887
interest saved
How gap financing works: The equity gap ($79,920) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($37,425 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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