Loan Comparison: 3.62% vs 6.5%
3323 Wildflower, Wellington, CO 80549 · 3bd/2ba · $475,000
List Price
$475,000
Assumable Rate
3.62%
Remaining Balance
$304,109
Equity Gap
$170,222
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$170,222
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.62% + gap loan
$2,512/moAssumed loan: $1,386/mo
Gap financing: $1,126/mo
$340less per month with the assumable
Your Savings on This Property
3323 Wildflower, Wellington · 3.62% FHA vs 6.5% conventional
$340
per month
$4,079
per year
$122,374
over 30 years
$121,705
interest saved
How gap financing works: The equity gap ($170,222) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($146,472 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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