Loan Comparison: 5.41% vs 6.5%
216 5th, La Salle, CO 80645 · 4bd/1ba · $350,000
List Price
$350,000
Assumable Rate
5.41%
Remaining Balance
$329,698
Equity Gap
$20,302
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$20,302
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 5.41% + gap loan
$1,875/moAssumed loan: $1,853/mo
Gap financing: $22/mo
$227less per month with the assumable
Your Savings on This Property
216 5th, La Salle · 5.41% FHA vs 6.5% conventional
$227
per month
$2,720
per year
$81,600
over 30 years
$81,600
interest saved
How gap financing works: The equity gap ($20,302) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($2,802 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.