Loan Comparison: 3.8% vs 6.5%
420 Duke, Fort Collins, CO 80525 · 5bd/3ba · $649,500
List Price
$649,500
Assumable Rate
3.8%
Remaining Balance
$328,443
Equity Gap
$320,324
Loan Type
FHAAdjust Your Scenario
$32,475
$32,475$320,324
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,900/moAssumable @ 3.8% + gap loan
$3,744/moAssumed loan: $1,530/mo
Gap financing: $2,213/mo
$156less per month with the assumable
Your Savings on This Property
420 Duke, Fort Collins · 3.8% FHA vs 6.5% conventional
$156
per month
$1,876
per year
$56,269
over 30 years
$55,536
interest saved
How gap financing works: The equity gap ($320,324) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,475, 5% of purchase price) and a second mortgage for the rest ($287,849 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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