Loan Comparison: 3.06% vs 6.5%
7358 Maybeck, Peyton, CO 80831 · 4bd/4ba · $370,000
List Price
$370,000
Assumable Rate
3.06%
Remaining Balance
$353,029
Equity Gap
$33,544
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$33,544
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.06% + gap loan
$1,616/moAssumed loan: $1,500/mo
Gap financing: $116/mo
$606less per month with the assumable
Your Savings on This Property
7358 Maybeck, Peyton · 3.06% FHA vs 6.5% conventional
$606
per month
$7,275
per year
$218,236
over 30 years
$234,809
interest saved
How gap financing works: The equity gap ($33,544) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($15,044 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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