Loan Comparison: 6.5% vs 6.5%
1583 Skeel Street, Brighton, CO 80601 · 5bd/3ba · $432,500
List Price
$432,500
Assumable Rate
6.5%
Remaining Balance
$405,826
Equity Gap
$26,673
Loan Type
FHAAdjust Your Scenario
$21,625
$21,625$26,673
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,597/moAssumable @ 6.5% + gap loan
$2,600/moAssumed loan: $2,565/mo
Gap financing: $35/mo
Your Savings on This Property
1583 Skeel Street, Brighton · 6.5% 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 ($26,673) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,625, 5% of purchase price) and a second mortgage for the rest ($5,048 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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