Loan Comparison: 2.72% vs 6.5%
12875 Hillcrest, Longmont, CO 80504 · 5bd/3ba · $907,800
List Price
$907,800
Assumable Rate
2.72%
Remaining Balance
$221,054
Equity Gap
$718,696
Loan Type
FHAAdjust Your Scenario
$45,390
$45,390$718,696
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.72% (FHA)
Blended Rate: 7.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,451/moAssumable @ 2.72% + gap loan
$6,076/moAssumed loan: $899/mo
Gap financing: $5,177/mo
Your Savings on This Property
12875 Hillcrest, Longmont · 2.72% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($718,696) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,390, 5% of purchase price) and a second mortgage for the rest ($673,306 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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