Loan Comparison: 3.62% vs 6.5%
37416 County Road 45, Eaton, CO 80615 · 4bd/2ba · $699,000
List Price
$699,000
Assumable Rate
3.62%
Remaining Balance
$341,143
Equity Gap
$355,588
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$355,588
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.62% + gap loan
$3,797/moAssumed loan: $1,555/mo
Gap financing: $2,242/mo
$400less per month with the assumable
Your Savings on This Property
37416 County Road 45, Eaton · 3.62% FHA vs 6.5% conventional
$400
per month
$4,806
per year
$144,170
over 30 years
$141,901
interest saved
How gap financing works: The equity gap ($355,588) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($320,638 at 7.5%). 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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