Loan Comparison: 3.08% vs 6.5%
8806 Silver Glen, Fountain, CO 80817 · 3bd/2ba · $380,000
List Price
$380,000
Assumable Rate
3.08%
Remaining Balance
$284,554
Equity Gap
$95,446
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$95,446
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 3.08% + gap loan
$1,800/moAssumed loan: $1,212/mo
Gap financing: $588/mo
$482less per month with the assumable
Your Savings on This Property
8806 Silver Glen, Fountain · 3.08% FHA vs 6.5% conventional
$482
per month
$5,784
per year
$173,505
over 30 years
$173,505
interest saved
How gap financing works: The equity gap ($95,446) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($76,446 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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