Loan Comparison: 3.96% vs 6.5%
2013 Fork, Lafayette, CO 80026 · 4bd/4ba · $700,000
List Price
$700,000
Assumable Rate
3.96%
Remaining Balance
$160,320
Equity Gap
$539,680
Loan Type
FHAAdjust Your Scenario
$35,000
$35,000$539,680
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (FHA)
Blended Rate: 7.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.96% + gap loan
$4,642/moAssumed loan: $762/mo
Gap financing: $3,881/mo
Your Savings on This Property
2013 Fork, Lafayette · 3.96% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($539,680) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($504,680 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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