Loan Comparison: 5.55% vs 6.5%
846 Mockingbird Lane, Brighton, CO 80640 · 6bd/4ba · $385,000
List Price
$385,000
Assumable Rate
5.55%
Remaining Balance
$357,068
Equity Gap
$27,931
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$27,931
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.55% (FHA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 5.55% + gap loan
$2,099/moAssumed loan: $2,039/mo
Gap financing: $61/mo
$212less per month with the assumable
Your Savings on This Property
846 Mockingbird Lane, Brighton · 5.55% FHA vs 6.5% conventional
$212
per month
$2,550
per year
$76,493
over 30 years
$76,492
interest saved
How gap financing works: The equity gap ($27,931) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($8,681 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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