Loan Comparison: 6.81% vs 6.5%
897 Willow Drive, Brighton, CO 80603 · 4bd/3ba · $465,000
List Price
$465,000
Assumable Rate
6.81%
Remaining Balance
$414,649
Equity Gap
$50,350
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$50,350
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.81% (FHA)
Blended Rate: 6.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 6.81% + gap loan
$2,895/moAssumed loan: $2,706/mo
Gap financing: $189/mo
Your Savings on This Property
897 Willow Drive, Brighton · 6.81% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($50,350) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($27,100 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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