Loan Comparison: 3.07% vs 6.5%
6662 123rd Drive, Brighton, CO 80602 · 3bd/4ba · $499,900
List Price
$499,900
Assumable Rate
3.07%
Remaining Balance
$320,289
Equity Gap
$179,610
Loan Type
FHAAdjust Your Scenario
$24,995
$24,995$179,610
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.07% + gap loan
$2,444/moAssumed loan: $1,362/mo
Gap financing: $1,081/mo
$558less per month with the assumable
Your Savings on This Property
6662 123rd Drive, Brighton · 3.07% FHA vs 6.5% conventional
$558
per month
$6,698
per year
$200,937
over 30 years
$200,936
interest saved
How gap financing works: The equity gap ($179,610) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($154,615 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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