Loan Comparison: 3.62% vs 6.5%
7608 Barn Owl, Fountain, CO 80817 · 3bd/2ba · $354,900
List Price
$354,900
Assumable Rate
3.62%
Remaining Balance
$171,670
Equity Gap
$183,230
Loan Type
FHAAdjust Your Scenario
$17,745
$17,745$183,230
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,131/moAssumable @ 3.62% + gap loan
$2,055/moAssumed loan: $782/mo
Gap financing: $1,272/mo
$76less per month with the assumable
Your Savings on This Property
7608 Barn Owl, Fountain · 3.62% FHA vs 6.5% conventional
$76
per month
$914
per year
$27,429
over 30 years
$27,429
interest saved
How gap financing works: The equity gap ($183,230) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,745, 5% of purchase price) and a second mortgage for the rest ($165,485 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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