Loan Comparison: 4.98% vs 6.5%
7387 Middle Bay, Fountain, CO 80817 · 4bd/4ba · $530,000
List Price
$530,000
Assumable Rate
4.98%
Remaining Balance
$438,137
Equity Gap
$91,177
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$91,177
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 4.98% + gap loan
$2,844/moAssumed loan: $2,347/mo
Gap financing: $497/mo
$338less per month with the assumable
Your Savings on This Property
7387 Middle Bay, Fountain · 4.98% FHA vs 6.5% conventional
$338
per month
$4,062
per year
$121,857
over 30 years
$121,171
interest saved
How gap financing works: The equity gap ($91,177) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($64,677 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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