Loan Comparison: 2.87% vs 6.5%
253 45th Avenue, Brighton, CO 80601 · 3bd/2ba · $565,000
List Price
$565,000
Assumable Rate
2.87%
Remaining Balance
$376,279
Equity Gap
$188,720
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$188,720
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.87% + gap loan
$2,682/moAssumed loan: $1,560/mo
Gap financing: $1,122/mo
$710less per month with the assumable
Your Savings on This Property
253 45th Avenue, Brighton · 2.87% FHA vs 6.5% conventional
$710
per month
$8,525
per year
$255,761
over 30 years
$255,760
interest saved
How gap financing works: The equity gap ($188,720) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($160,470 at 7.5%). 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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