Loan Comparison: 3.77% vs 6.5%
22120 Mcdaniels, Calhan, CO 80808 · 3bd/2ba · $647,000
List Price
$647,000
Assumable Rate
3.77%
Remaining Balance
$124,443
Equity Gap
$526,226
Loan Type
FHAAdjust Your Scenario
$32,350
$32,350$526,226
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 7.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,885/moAssumable @ 3.77% + gap loan
$4,375/moAssumed loan: $578/mo
Gap financing: $3,797/mo
Your Savings on This Property
22120 Mcdaniels, Calhan · 3.77% 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 ($526,226) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,350, 5% of purchase price) and a second mortgage for the rest ($493,876 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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