Loan Comparison: 3.1% vs 6.5%
6655 Monaco Drive, Brighton, CO 80602 · 4bd/3ba · $449,000
List Price
$449,000
Assumable Rate
3.1%
Remaining Balance
$385,428
Equity Gap
$63,572
Loan Type
FHAAdjust Your Scenario
$22,450
$22,450$63,572
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,696/moAssumable @ 3.1% + gap loan
$1,933/moAssumed loan: $1,646/mo
Gap financing: $288/mo
$763less per month with the assumable
Your Savings on This Property
6655 Monaco Drive, Brighton · 3.1% FHA vs 6.5% conventional
$763
per month
$9,153
per year
$274,577
over 30 years
$274,577
interest saved
How gap financing works: The equity gap ($63,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,450, 5% of purchase price) and a second mortgage for the rest ($41,122 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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