Loan Comparison: 2.68% vs 6.5%
5185 Redbud Street, Brighton, CO 80601 · 6bd/4ba · $549,900
List Price
$549,900
Assumable Rate
2.68%
Remaining Balance
$347,140
Equity Gap
$202,759
Loan Type
FHAAdjust Your Scenario
$27,495
$27,495$202,759
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 2.68% + gap loan
$2,630/moAssumed loan: $1,404/mo
Gap financing: $1,225/mo
$672less per month with the assumable
Your Savings on This Property
5185 Redbud Street, Brighton · 2.68% FHA vs 6.5% conventional
$672
per month
$8,066
per year
$241,975
over 30 years
$241,974
interest saved
How gap financing works: The equity gap ($202,759) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($175,264 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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