Loan Comparison: 4.17% vs 6.5%
3741 Barnard, Johnstown, CO 80534 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
4.17%
Remaining Balance
$441,490
Equity Gap
$109,297
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$109,297
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 4.17% + gap loan
$2,780/moAssumed loan: $2,151/mo
Gap financing: $629/mo
$522less per month with the assumable
Your Savings on This Property
3741 Barnard, Johnstown · 4.17% FHA vs 6.5% conventional
$522
per month
$6,268
per year
$188,053
over 30 years
$188,840
interest saved
How gap financing works: The equity gap ($109,297) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($81,797 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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