Loan Comparison: 5.23% vs 6.5%
740 Beth, Fort Lupton, CO 80621 · 5bd/3ba · $449,000
List Price
$449,000
Assumable Rate
5.23%
Remaining Balance
$358,665
Equity Gap
$90,335
Loan Type
FHAAdjust Your Scenario
$22,450
$22,450$90,335
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,696/moAssumable @ 5.23% + gap loan
$2,498/moAssumed loan: $1,976/mo
Gap financing: $522/mo
$198less per month with the assumable
Your Savings on This Property
740 Beth, Fort Lupton · 5.23% FHA vs 6.5% conventional
$198
per month
$2,376
per year
$71,276
over 30 years
$71,276
interest saved
How gap financing works: The equity gap ($90,335) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,450, 5% of purchase price) and a second mortgage for the rest ($67,885 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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