Loan Comparison: 2.48% vs 6.5%
2702 Rigden, Fort Collins, CO 80525 · 2bd/3ba · $359,000
List Price
$359,000
Assumable Rate
2.48%
Remaining Balance
$125,628
Equity Gap
$233,372
Loan Type
FHAAdjust Your Scenario
$17,950
$17,950$233,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.48% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,156/moAssumable @ 2.48% + gap loan
$2,151/moAssumed loan: $495/mo
Gap financing: $1,656/mo
$4less per month with the assumable
Your Savings on This Property
2702 Rigden, Fort Collins · 2.48% FHA vs 6.5% conventional
$4
per month
$50
per year
$1,506
over 30 years
$1,506
interest saved
How gap financing works: The equity gap ($233,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,950, 5% of purchase price) and a second mortgage for the rest ($215,422 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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