Loan Comparison: 3.07% vs 6.5%
289 Holden, Johnstown, CO 80534 · 4bd/3ba · $584,500
List Price
$584,500
Assumable Rate
3.07%
Remaining Balance
$430,446
Equity Gap
$153,132
Loan Type
FHAAdjust Your Scenario
$29,225
$29,225$153,132
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,510/moAssumable @ 3.07% + gap loan
$2,784/moAssumed loan: $1,831/mo
Gap financing: $953/mo
$726less per month with the assumable
Your Savings on This Property
289 Holden, Johnstown · 3.07% FHA vs 6.5% conventional
$726
per month
$8,711
per year
$261,327
over 30 years
$260,405
interest saved
How gap financing works: The equity gap ($153,132) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,225, 5% of purchase price) and a second mortgage for the rest ($123,907 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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