Loan Comparison: 2.84% vs 6.5%
7253 Shavano, Frederick, CO 80504 · 3bd/3ba · $513,000
List Price
$513,000
Assumable Rate
2.84%
Remaining Balance
$387,840
Equity Gap
$125,577
Loan Type
FHAAdjust Your Scenario
$25,650
$25,650$125,577
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,080/moAssumable @ 2.84% + gap loan
$2,370/moAssumed loan: $1,602/mo
Gap financing: $768/mo
$710less per month with the assumable
Your Savings on This Property
7253 Shavano, Frederick · 2.84% FHA vs 6.5% conventional
$710
per month
$8,522
per year
$255,657
over 30 years
$256,074
interest saved
How gap financing works: The equity gap ($125,577) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,650, 5% of purchase price) and a second mortgage for the rest ($99,927 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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