Loan Comparison: 2.88% vs 6.5%
609 Hearthstone Avenue, Brighton, CO 80601 · 3bd/3ba · $615,500
List Price
$615,500
Assumable Rate
2.88%
Remaining Balance
$539,959
Equity Gap
$75,541
Loan Type
FHAAdjust Your Scenario
$30,775
$30,775$75,541
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,696/moAssumable @ 2.88% + gap loan
$2,555/moAssumed loan: $2,242/mo
Gap financing: $313/mo
$1,141less per month with the assumable
Your Savings on This Property
609 Hearthstone Avenue, Brighton · 2.88% FHA vs 6.5% conventional
$1,141
per month
$13,694
per year
$410,816
over 30 years
$410,816
interest saved
How gap financing works: The equity gap ($75,541) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,775, 5% of purchase price) and a second mortgage for the rest ($44,766 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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