Loan Comparison: 3.16% vs 6.5%
576 Pioneer, Fort Lupton, CO 80621 · 3bd/3ba · $459,900
List Price
$459,900
Assumable Rate
3.16%
Remaining Balance
$344,137
Equity Gap
$138,148
Loan Type
FHAAdjust Your Scenario
$22,995
$22,995$138,148
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.16% + gap loan
$2,366/moAssumed loan: $1,481/mo
Gap financing: $885/mo
$395less per month with the assumable
Your Savings on This Property
576 Pioneer, Fort Lupton · 3.16% FHA vs 6.5% conventional
$395
per month
$4,744
per year
$142,326
over 30 years
$164,711
interest saved
How gap financing works: The equity gap ($138,148) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($115,153 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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