Loan Comparison: 3.62% vs 6.5%
37416 County Road 45, Eaton, CO 80615 · 4bd/2ba · $750,000
List Price
$750,000
Assumable Rate
3.62%
Remaining Balance
$343,412
Equity Gap
$406,588
Loan Type
FHAAdjust Your Scenario
$37,500
$37,500$406,588
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.62% + gap loan
$4,403/moAssumed loan: $1,565/mo
Gap financing: $2,838/mo
$100less per month with the assumable
Your Savings on This Property
37416 County Road 45, Eaton · 3.62% FHA vs 6.5% conventional
$100
per month
$1,204
per year
$36,126
over 30 years
$36,126
interest saved
How gap financing works: The equity gap ($406,588) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($369,088 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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