Loan Comparison: 5.3% vs 6.5%
2652 Diamondback, Berthoud, CO 80513 · 2bd/2ba · $400,000
List Price
$400,000
Assumable Rate
5.3%
Remaining Balance
$357,408
Equity Gap
$56,338
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$56,338
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (FHA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 5.3% + gap loan
$2,264/moAssumed loan: $1,985/mo
Gap financing: $279/mo
$138less per month with the assumable
Your Savings on This Property
2652 Diamondback, Berthoud · 5.3% FHA vs 6.5% conventional
$138
per month
$1,653
per year
$49,589
over 30 years
$63,335
interest saved
How gap financing works: The equity gap ($56,338) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($36,338 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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