Loan Comparison: 4.17% vs 6.5%
1347 Lark Avenue, Brighton, CO 80601 · 5bd/3ba · $405,000
List Price
$405,000
Assumable Rate
4.17%
Remaining Balance
$367,370
Equity Gap
$37,629
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$37,629
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 4.17% + gap loan
$1,912/moAssumed loan: $1,790/mo
Gap financing: $122/mo
$520less per month with the assumable
Your Savings on This Property
1347 Lark Avenue, Brighton · 4.17% FHA vs 6.5% conventional
$520
per month
$6,243
per year
$187,304
over 30 years
$187,303
interest saved
How gap financing works: The equity gap ($37,629) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($17,379 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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