Loan Comparison: 2.95% vs 6.5%
512 Tumbleweed Drive, Brighton, CO 80601 · 5bd/4ba · $520,000
List Price
$520,000
Assumable Rate
2.95%
Remaining Balance
$468,350
Equity Gap
$51,649
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$51,649
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.95% (FHA)
Blended Rate: 3.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.95% + gap loan
$2,141/moAssumed loan: $1,962/mo
Gap financing: $179/mo
$981less per month with the assumable
Your Savings on This Property
512 Tumbleweed Drive, Brighton · 2.95% FHA vs 6.5% conventional
$981
per month
$11,773
per year
$353,196
over 30 years
$353,195
interest saved
How gap financing works: The equity gap ($51,649) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($25,649 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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