Loan Comparison: 6.09% vs 6.5%
741 Canyon Lane, Brighton, CO 80603 · 4bd/3ba · $475,000
List Price
$475,000
Assumable Rate
6.09%
Remaining Balance
$420,843
Equity Gap
$54,156
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$54,156
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.09% (FHA)
Blended Rate: 6.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 6.09% + gap loan
$2,760/moAssumed loan: $2,548/mo
Gap financing: $213/mo
$92less per month with the assumable
Your Savings on This Property
741 Canyon Lane, Brighton · 6.09% FHA vs 6.5% conventional
$92
per month
$1,104
per year
$33,133
over 30 years
$33,132
interest saved
How gap financing works: The equity gap ($54,156) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($30,406 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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