Loan Comparison: 3.7% vs 6.5%
14055 Harrison Street, Brighton, CO 80602 · 3bd/1ba · $435,000
List Price
$435,000
Assumable Rate
3.7%
Remaining Balance
$323,380
Equity Gap
$111,620
Loan Type
FHAAdjust Your Scenario
$21,750
$21,750$111,620
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (FHA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.7% + gap loan
$2,117/moAssumed loan: $1,488/mo
Gap financing: $628/mo
$495less per month with the assumable
Your Savings on This Property
14055 Harrison Street, Brighton · 3.7% FHA vs 6.5% conventional
$495
per month
$5,942
per year
$178,263
over 30 years
$178,263
interest saved
How gap financing works: The equity gap ($111,620) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($89,870 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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