Loan Comparison: 3.62% vs 6.5%
13701 Leyden Street, Brighton, CO 80602 · 5bd/4ba · $690,000
List Price
$690,000
Assumable Rate
3.62%
Remaining Balance
$397,425
Equity Gap
$292,574
Loan Type
FHAAdjust Your Scenario
$34,500
$34,500$292,574
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 3.62% + gap loan
$3,616/moAssumed loan: $1,811/mo
Gap financing: $1,804/mo
$527less per month with the assumable
Your Savings on This Property
13701 Leyden Street, Brighton · 3.62% FHA vs 6.5% conventional
$527
per month
$6,328
per year
$189,854
over 30 years
$189,853
interest saved
How gap financing works: The equity gap ($292,574) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,500, 5% of purchase price) and a second mortgage for the rest ($258,074 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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