Loan Comparison: 3.25% vs 6.5%
1510 Stoneham, Superior, CO 80027 · 3bd/3ba · $842,500
List Price
$842,500
Assumable Rate
3.25%
Remaining Balance
$273,453
Equity Gap
$660,998
Loan Type
FHAAdjust Your Scenario
$42,125
$42,125$660,998
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (FHA)
Blended Rate: 6.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,059/moAssumable @ 3.25% + gap loan
$5,949/moAssumed loan: $1,190/mo
Gap financing: $4,759/mo
Your Savings on This Property
1510 Stoneham, Superior · 3.25% 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 ($660,998) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,125, 5% of purchase price) and a second mortgage for the rest ($618,873 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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