Loan Comparison: 3.23% vs 6.5%
187 Apache Plume Court, Brighton, CO 80601 · 2bd/3ba · $499,000
List Price
$499,000
Assumable Rate
3.23%
Remaining Balance
$345,628
Equity Gap
$153,372
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$153,372
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.23% + gap loan
$2,398/moAssumed loan: $1,500/mo
Gap financing: $898/mo
$598less per month with the assumable
Your Savings on This Property
187 Apache Plume Court, Brighton · 3.23% FHA vs 6.5% conventional
$598
per month
$7,176
per year
$215,269
over 30 years
$215,269
interest saved
How gap financing works: The equity gap ($153,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($128,422 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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