Loan Comparison: 3.4% vs 6.5%
1684 Oak Creek, Loveland, CO 80538 · 2bd/2ba · $339,900
List Price
$339,900
Assumable Rate
3.4%
Remaining Balance
$84,542
Equity Gap
$255,358
Loan Type
FHAAdjust Your Scenario
$16,995
$16,995$255,358
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.4% (FHA)
Blended Rate: 7.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,041/moAssumable @ 3.4% + gap loan
$2,208/moAssumed loan: $375/mo
Gap financing: $1,833/mo
Your Savings on This Property
1684 Oak Creek, Loveland · 3.4% 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 ($255,358) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,995, 5% of purchase price) and a second mortgage for the rest ($238,363 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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