Loan Comparison: 3.62% vs 6.5%
2621 Marina, Evans, CO 80620 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
3.62%
Remaining Balance
$293,999
Equity Gap
$177,308
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$177,308
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.62% + gap loan
$2,526/moAssumed loan: $1,340/mo
Gap financing: $1,186/mo
$236less per month with the assumable
Your Savings on This Property
2621 Marina, Evans · 3.62% FHA vs 6.5% conventional
$236
per month
$2,828
per year
$84,846
over 30 years
$96,153
interest saved
How gap financing works: The equity gap ($177,308) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($154,308 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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