Loan Comparison: 5.23% vs 6.5%
2419 Whistler, Longmont, CO 80504 · 3bd/3ba · $490,000
List Price
$490,000
Assumable Rate
5.23%
Remaining Balance
$444,879
Equity Gap
$45,785
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$45,785
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 5.23% + gap loan
$2,615/moAssumed loan: $2,451/mo
Gap financing: $164/mo
$327less per month with the assumable
Your Savings on This Property
2419 Whistler, Longmont · 5.23% FHA vs 6.5% conventional
$327
per month
$3,930
per year
$117,894
over 30 years
$118,558
interest saved
How gap financing works: The equity gap ($45,785) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($21,285 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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