Loan Comparison: 4.14% vs 6.5%
7101 Shavano, Frederick, CO 80504 · 3bd/2ba · $470,000
List Price
$470,000
Assumable Rate
4.14%
Remaining Balance
$328,824
Equity Gap
$139,754
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$139,754
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 4.14% + gap loan
$2,490/moAssumed loan: $1,597/mo
Gap financing: $894/mo
$332less per month with the assumable
Your Savings on This Property
7101 Shavano, Frederick · 4.14% FHA vs 6.5% conventional
$332
per month
$3,981
per year
$119,441
over 30 years
$118,019
interest saved
How gap financing works: The equity gap ($139,754) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($116,254 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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