Loan Comparison: 2.77% vs 6.5%
985 10th, Loveland, CO 80537 · 2bd/2ba · $315,000
List Price
$315,000
Assumable Rate
2.77%
Remaining Balance
$216,155
Equity Gap
$98,336
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$98,336
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 2.77% + gap loan
$1,520/moAssumed loan: $885/mo
Gap financing: $635/mo
$372less per month with the assumable
Your Savings on This Property
985 10th, Loveland · 2.77% FHA vs 6.5% conventional
$372
per month
$4,461
per year
$133,820
over 30 years
$133,311
interest saved
How gap financing works: The equity gap ($98,336) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($82,586 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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