Loan Comparison: 5.5% vs 6.5%
1352 Bluebird Street, Brighton, CO 80601 · 3bd/2ba · $410,000
List Price
$410,000
Assumable Rate
5.5%
Remaining Balance
$56,032
Equity Gap
$353,968
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$353,968
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 7.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 5.5% + gap loan
$2,650/moAssumed loan: $318/mo
Gap financing: $2,332/mo
Your Savings on This Property
1352 Bluebird Street, Brighton · 5.5% 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 ($353,968) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($333,468 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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