Loan Comparison: 3.31% vs 6.5%
6421 Dry Fork, Frederick, CO 80516 · 3bd/3ba · $540,000
List Price
$540,000
Assumable Rate
3.31%
Remaining Balance
$342,819
Equity Gap
$197,180
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$197,180
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 3.31% + gap loan
$2,812/moAssumed loan: $1,503/mo
Gap financing: $1,309/mo
$431less per month with the assumable
Your Savings on This Property
6421 Dry Fork, Frederick · 3.31% FHA vs 6.5% conventional
$431
per month
$5,168
per year
$155,048
over 30 years
$155,047
interest saved
How gap financing works: The equity gap ($197,180) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($170,180 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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