Loan Comparison: 4.16% vs 6.5%
1419 Swan Avenue, Brighton, CO 80601 · 3bd/2ba · $423,000
List Price
$423,000
Assumable Rate
4.16%
Remaining Balance
$397,625
Equity Gap
$25,374
Loan Type
FHAAdjust Your Scenario
$21,150
$21,150$25,374
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.16% (FHA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,540/moAssumable @ 4.16% + gap loan
$1,965/moAssumed loan: $1,935/mo
Gap financing: $30/mo
$575less per month with the assumable
Your Savings on This Property
1419 Swan Avenue, Brighton · 4.16% FHA vs 6.5% conventional
$575
per month
$6,903
per year
$207,089
over 30 years
$207,088
interest saved
How gap financing works: The equity gap ($25,374) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,150, 5% of purchase price) and a second mortgage for the rest ($4,224 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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