Loan Comparison: 3.31% vs 6.5%
6421 Dry Fork, Frederick, CO 80516 · 3bd/3ba · $534,900
List Price
$534,900
Assumable Rate
3.31%
Remaining Balance
$342,046
Equity Gap
$192,080
Loan Type
FHAAdjust Your Scenario
$26,745
$26,745$192,080
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.31% + gap loan
$2,771/moAssumed loan: $1,500/mo
Gap financing: $1,271/mo
$441less per month with the assumable
Your Savings on This Property
6421 Dry Fork, Frederick · 3.31% FHA vs 6.5% conventional
$441
per month
$5,289
per year
$158,655
over 30 years
$157,881
interest saved
How gap financing works: The equity gap ($192,080) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,745, 5% of purchase price) and a second mortgage for the rest ($165,335 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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