Loan Comparison: 3.07% vs 6.5%
11216 Berry Farm, Fountain, CO 80817 · 3bd/3ba · $398,000
List Price
$398,000
Assumable Rate
3.07%
Remaining Balance
$313,733
Equity Gap
$96,981
Loan Type
FHAAdjust Your Scenario
$19,900
$19,900$96,981
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,390/moAssumable @ 3.07% + gap loan
$1,927/moAssumed loan: $1,335/mo
Gap financing: $593/mo
$463less per month with the assumable
Your Savings on This Property
11216 Berry Farm, Fountain · 3.07% FHA vs 6.5% conventional
$463
per month
$5,551
per year
$166,528
over 30 years
$179,242
interest saved
How gap financing works: The equity gap ($96,981) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,900, 5% of purchase price) and a second mortgage for the rest ($77,081 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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