Loan Comparison: 5.25% vs 6.5%
4490 Haymill, Timnath, CO 80547 · 4bd/3ba · $518,000
List Price
$518,000
Assumable Rate
5.25%
Remaining Balance
$454,457
Equity Gap
$63,543
Loan Type
FHAAdjust Your Scenario
$25,900
$25,900$63,543
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (FHA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,110/moAssumable @ 5.25% + gap loan
$2,799/moAssumed loan: $2,510/mo
Gap financing: $289/mo
$311less per month with the assumable
Your Savings on This Property
4490 Haymill, Timnath · 5.25% FHA vs 6.5% conventional
$311
per month
$3,737
per year
$112,117
over 30 years
$112,117
interest saved
How gap financing works: The equity gap ($63,543) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,900, 5% of purchase price) and a second mortgage for the rest ($37,643 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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