Loan Comparison: 4% vs 6.5%
7739 Del Ray Bay, Fountain, CO 80817 · 3bd/2ba · $386,000
List Price
$386,000
Assumable Rate
4%
Remaining Balance
$132,613
Equity Gap
$253,387
Loan Type
FHAAdjust Your Scenario
$19,300
$19,300$253,387
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 6.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,318/moAssumable @ 4% + gap loan
$2,433/moAssumed loan: $633/mo
Gap financing: $1,800/mo
Your Savings on This Property
7739 Del Ray Bay, Fountain · 4% 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 ($253,387) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,300, 5% of purchase price) and a second mortgage for the rest ($234,087 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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