Loan Comparison: 2.81% vs 6.5%
7356 New Raymer, Fort Collins, CO 80525 · 4bd/4ba · $595,000
List Price
$595,000
Assumable Rate
2.81%
Remaining Balance
$418,817
Equity Gap
$176,183
Loan Type
FHAAdjust Your Scenario
$29,750
$29,750$176,183
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 2.81% + gap loan
$2,849/moAssumed loan: $1,723/mo
Gap financing: $1,126/mo
$724less per month with the assumable
Your Savings on This Property
7356 New Raymer, Fort Collins · 2.81% FHA vs 6.5% conventional
$724
per month
$8,684
per year
$260,531
over 30 years
$260,531
interest saved
How gap financing works: The equity gap ($176,183) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($146,433 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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