Loan Comparison: 4.03% vs 6.5%
4744 Taft, Morrison, CO 80465 · 4bd/2ba · $565,000
List Price
$565,000
Assumable Rate
4.03%
Remaining Balance
$314,525
Equity Gap
$249,723
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$249,723
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 4.03% + gap loan
$3,210/moAssumed loan: $1,507/mo
Gap financing: $1,703/mo
$183less per month with the assumable
Your Savings on This Property
4744 Taft, Morrison · 4.03% FHA vs 6.5% conventional
$183
per month
$2,192
per year
$65,755
over 30 years
$65,003
interest saved
How gap financing works: The equity gap ($249,723) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($221,473 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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