Loan Comparison: 3.31% vs 6.5%
628 16th Avenue, Brighton, CO 80601 · 3bd/2ba · $570,000
List Price
$570,000
Assumable Rate
3.31%
Remaining Balance
$351,802
Equity Gap
$218,197
Loan Type
FHAAdjust Your Scenario
$28,500
$28,500$218,197
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 3.31% + gap loan
$2,869/moAssumed loan: $1,543/mo
Gap financing: $1,326/mo
$554less per month with the assumable
Your Savings on This Property
628 16th Avenue, Brighton · 3.31% FHA vs 6.5% conventional
$554
per month
$6,643
per year
$199,291
over 30 years
$199,290
interest saved
How gap financing works: The equity gap ($218,197) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($189,697 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.
🏠
Back to This Listing
View photos, details, and request a showing for 628 16th Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.