Loan Comparison: 4.14% vs 6.5%
7101 Shavano, Frederick, CO 80504 · 3bd/2ba · $490,000
List Price
$490,000
Assumable Rate
4.14%
Remaining Balance
$356,258
Equity Gap
$159,754
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$159,754
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 4.14% + gap loan
$2,770/moAssumed loan: $1,730/mo
Gap financing: $1,040/mo
$173less per month with the assumable
Your Savings on This Property
7101 Shavano, Frederick · 4.14% FHA vs 6.5% conventional
$173
per month
$2,071
per year
$62,129
over 30 years
$88,141
interest saved
How gap financing works: The equity gap ($159,754) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($135,254 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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