Loan Comparison: 3.76% vs 6.5%
3855 Beechwood, Johnstown, CO 80534 · 3bd/3ba · $469,900
List Price
$469,900
Assumable Rate
3.76%
Remaining Balance
$424,801
Equity Gap
$44,292
Loan Type
FHAAdjust Your Scenario
$23,495
$23,495$44,292
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 3.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.76% + gap loan
$2,130/moAssumed loan: $1,970/mo
Gap financing: $160/mo
$692less per month with the assumable
Your Savings on This Property
3855 Beechwood, Johnstown · 3.76% FHA vs 6.5% conventional
$692
per month
$8,303
per year
$249,099
over 30 years
$248,292
interest saved
How gap financing works: The equity gap ($44,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,495, 5% of purchase price) and a second mortgage for the rest ($20,797 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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