Loan Comparison: 2.87% vs 6.5%
16733 Beaumont Boulevard, Mead, CO 80542 · 4bd/3ba · $489,990
List Price
$489,990
Assumable Rate
2.87%
Remaining Balance
$341,405
Equity Gap
$148,584
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$148,584
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 2.87% + gap loan
$2,283/moAssumed loan: $1,416/mo
Gap financing: $868/mo
$659less per month with the assumable
Your Savings on This Property
16733 Beaumont Boulevard, Mead · 2.87% FHA vs 6.5% conventional
$659
per month
$7,909
per year
$237,259
over 30 years
$237,257
interest saved
How gap financing works: The equity gap ($148,584) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($124,084 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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