Loan Comparison: 3.44% vs 6.5%
313 Raspberry, Monument, CO 80132 · 4bd/3ba · $385,000
List Price
$385,000
Assumable Rate
3.44%
Remaining Balance
$183,036
Equity Gap
$231,529
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$231,529
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 3.44% + gap loan
$2,448/moAssumed loan: $816/mo
Gap financing: $1,632/mo
Your Savings on This Property
313 Raspberry, Monument · 3.44% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($231,529) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($212,279 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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