Loan Comparison: 3.06% vs 6.5%
1980 Welch, Fort Collins, CO 80525 · 4bd/2ba · $500,000
List Price
$500,000
Assumable Rate
3.06%
Remaining Balance
$403,781
Equity Gap
$96,219
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$96,219
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.06% + gap loan
$2,263/moAssumed loan: $1,715/mo
Gap financing: $548/mo
$739less per month with the assumable
Your Savings on This Property
1980 Welch, Fort Collins · 3.06% FHA vs 6.5% conventional
$739
per month
$8,871
per year
$266,133
over 30 years
$266,133
interest saved
How gap financing works: The equity gap ($96,219) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($71,219 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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