Loan Comparison: 4.04% vs 6.5%
285 Whimsical Avenue, Brighton, CO 80603 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
4.04%
Remaining Balance
$182,439
Equity Gap
$217,461
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$217,461
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (FHA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 4.04% + gap loan
$2,256/moAssumed loan: $875/mo
Gap financing: $1,381/mo
$145less per month with the assumable
Your Savings on This Property
285 Whimsical Avenue, Brighton · 4.04% FHA vs 6.5% conventional
$145
per month
$1,744
per year
$52,323
over 30 years
$52,323
interest saved
How gap financing works: The equity gap ($217,461) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($197,466 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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