Loan Comparison: 2.77% vs 6.5%
120 Indiana, Berthoud, CO 80513 · 3bd/2ba · $359,000
List Price
$359,000
Assumable Rate
2.77%
Remaining Balance
$265,583
Equity Gap
$111,842
Loan Type
FHAAdjust Your Scenario
$17,950
$17,950$111,842
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,156/moAssumable @ 2.77% + gap loan
$1,809/moAssumed loan: $1,087/mo
Gap financing: $722/mo
$347less per month with the assumable
Your Savings on This Property
120 Indiana, Berthoud · 2.77% FHA vs 6.5% conventional
$347
per month
$4,160
per year
$124,807
over 30 years
$143,232
interest saved
How gap financing works: The equity gap ($111,842) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,950, 5% of purchase price) and a second mortgage for the rest ($93,892 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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