Loan Comparison: 2.375% vs 6.5%
804 Mulberry Court, Brighton, CO 80601 · 3bd/4ba · $550,000
List Price
$550,000
Assumable Rate
2.375%
Remaining Balance
$317,185
Equity Gap
$232,815
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$232,815
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.375% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.375% + gap loan
$2,668/moAssumed loan: $1,233/mo
Gap financing: $1,436/mo
$634less per month with the assumable
Your Savings on This Property
804 Mulberry Court, Brighton · 2.375% FHA vs 6.5% conventional
$634
per month
$7,611
per year
$228,317
over 30 years
$228,317
interest saved
How gap financing works: The equity gap ($232,815) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($205,315 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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