Loan Comparison: 3.77% vs 6.5%
7447 Little Fox, Wellington, CO 80549 · 3bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.77%
Remaining Balance
$270,294
Equity Gap
$195,306
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$195,306
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.77% + gap loan
$2,578/moAssumed loan: $1,255/mo
Gap financing: $1,323/mo
$214less per month with the assumable
Your Savings on This Property
7447 Little Fox, Wellington · 3.77% FHA vs 6.5% conventional
$214
per month
$2,572
per year
$77,168
over 30 years
$77,768
interest saved
How gap financing works: The equity gap ($195,306) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($172,056 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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