Loan Comparison: 3.73% vs 6.5%
2880 Katie, Loveland, CO 80537 · 4bd/2ba · $445,000
List Price
$445,000
Assumable Rate
3.73%
Remaining Balance
$266,294
Equity Gap
$179,291
Loan Type
FHAAdjust Your Scenario
$22,250
$22,250$179,291
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.73% (FHA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.73% + gap loan
$2,438/moAssumed loan: $1,230/mo
Gap financing: $1,208/mo
$234less per month with the assumable
Your Savings on This Property
2880 Katie, Loveland · 3.73% FHA vs 6.5% conventional
$234
per month
$2,812
per year
$84,359
over 30 years
$84,944
interest saved
How gap financing works: The equity gap ($179,291) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($157,041 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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