Loan Comparison: 3.34% vs 6.5%
114 Foxglove Drive, Brighton, CO 80601 · 5bd/3ba · $315,000
List Price
$315,000
Assumable Rate
3.34%
Remaining Balance
$83,147
Equity Gap
$231,853
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$231,853
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (FHA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 3.34% + gap loan
$1,877/moAssumed loan: $366/mo
Gap financing: $1,511/mo
$14less per month with the assumable
Your Savings on This Property
114 Foxglove Drive, Brighton · 3.34% FHA vs 6.5% conventional
$14
per month
$174
per year
$5,205
over 30 years
$5,205
interest saved
How gap financing works: The equity gap ($231,853) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($216,103 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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