Loan Comparison: 3.45% vs 6.5%
2303 Coyote Creek, Fort Lupton, CO 80621 · 3bd/2ba · $469,000
List Price
$469,000
Assumable Rate
3.45%
Remaining Balance
$350,654
Equity Gap
$118,346
Loan Type
FHAAdjust Your Scenario
$23,450
$23,450$118,346
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,816/moAssumable @ 3.45% + gap loan
$2,294/moAssumed loan: $1,565/mo
Gap financing: $730/mo
$522less per month with the assumable
Your Savings on This Property
2303 Coyote Creek, Fort Lupton · 3.45% FHA vs 6.5% conventional
$522
per month
$6,260
per year
$187,808
over 30 years
$187,808
interest saved
How gap financing works: The equity gap ($118,346) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,450, 5% of purchase price) and a second mortgage for the rest ($94,896 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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