Loan Comparison: 2.84% vs 6.5%
3546 Hottman Street, Brighton, CO 80601 · 6bd/5ba · $517,500
List Price
$517,500
Assumable Rate
2.84%
Remaining Balance
$451,320
Equity Gap
$66,179
Loan Type
FHAAdjust Your Scenario
$25,875
$25,875$66,179
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,107/moAssumable @ 2.84% + gap loan
$2,146/moAssumed loan: $1,864/mo
Gap financing: $282/mo
$962less per month with the assumable
Your Savings on This Property
3546 Hottman Street, Brighton · 2.84% FHA vs 6.5% conventional
$962
per month
$11,538
per year
$346,152
over 30 years
$346,151
interest saved
How gap financing works: The equity gap ($66,179) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,875, 5% of purchase price) and a second mortgage for the rest ($40,304 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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