Loan Comparison: 3.8% vs 6.5%
420 Duke, Fort Collins, CO 80525 · 5bd/3ba · $685,000
List Price
$685,000
Assumable Rate
3.8%
Remaining Balance
$377,093
Equity Gap
$355,824
Loan Type
FHAAdjust Your Scenario
$34,250
$34,250$355,824
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 3.8% + gap loan
$4,230/moAssumed loan: $1,757/mo
Gap financing: $2,473/mo
Your Savings on This Property
420 Duke, Fort Collins · 3.8% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$5,964
interest saved
How gap financing works: The equity gap ($355,824) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($321,574 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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