Loan Comparison: 3.06% vs 6.5%
3810 Dove, Evans, CO 80620 · 4bd/3ba · $424,900
List Price
$424,900
Assumable Rate
3.06%
Remaining Balance
$302,237
Equity Gap
$122,663
Loan Type
FHAAdjust Your Scenario
$21,245
$21,245$122,663
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,551/moAssumable @ 3.06% + gap loan
$2,064/moAssumed loan: $1,284/mo
Gap financing: $780/mo
$488less per month with the assumable
Your Savings on This Property
3810 Dove, Evans · 3.06% FHA vs 6.5% conventional
$488
per month
$5,850
per year
$175,505
over 30 years
$175,505
interest saved
How gap financing works: The equity gap ($122,663) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,245, 5% of purchase price) and a second mortgage for the rest ($101,418 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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