Loan Comparison: 6.42% vs 6.5%
864 Hearthstone Avenue, Brighton, CO 80601 · 4bd/3ba · $585,000
List Price
$585,000
Assumable Rate
6.42%
Remaining Balance
$542,075
Equity Gap
$42,924
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$42,924
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.42% (FHA)
Blended Rate: 6.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 6.42% + gap loan
$3,493/moAssumed loan: $3,398/mo
Gap financing: $96/mo
$19less per month with the assumable
Your Savings on This Property
864 Hearthstone Avenue, Brighton · 6.42% FHA vs 6.5% conventional
$19
per month
$232
per year
$6,946
over 30 years
$6,945
interest saved
How gap financing works: The equity gap ($42,924) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($13,674 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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