Loan Comparison: 2.96% vs 6.5%
5789 Slate River Place, Brighton, CO 80601 · 5bd/3ba · $549,999
List Price
$549,999
Assumable Rate
2.96%
Remaining Balance
$387,547
Equity Gap
$162,451
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$162,451
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.96% + gap loan
$2,569/moAssumed loan: $1,626/mo
Gap financing: $944/mo
$733less per month with the assumable
Your Savings on This Property
5789 Slate River Place, Brighton · 2.96% FHA vs 6.5% conventional
$733
per month
$8,801
per year
$264,019
over 30 years
$264,018
interest saved
How gap financing works: The equity gap ($162,451) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($134,951 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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