Loan Comparison: 5.81% vs 6.5%
722 Crossbill, Berthoud, CO 80513 · 4bd/4ba · $500,000
List Price
$500,000
Assumable Rate
5.81%
Remaining Balance
$434,219
Equity Gap
$65,781
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$65,781
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.81% (FHA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 5.81% + gap loan
$2,864/moAssumed loan: $2,551/mo
Gap financing: $314/mo
$138less per month with the assumable
Your Savings on This Property
722 Crossbill, Berthoud · 5.81% FHA vs 6.5% conventional
$138
per month
$1,658
per year
$49,750
over 30 years
$49,750
interest saved
How gap financing works: The equity gap ($65,781) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($40,781 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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