Loan Comparison: 2.87% vs 6.5%
857 Morning Glory, Brighton, CO 80640 · 3bd/3ba · $474,900
List Price
$474,900
Assumable Rate
2.87%
Remaining Balance
$418,405
Equity Gap
$55,572
Loan Type
FHAAdjust Your Scenario
$23,745
$23,745$55,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.87% + gap loan
$1,980/moAssumed loan: $1,735/mo
Gap financing: $245/mo
$872less per month with the assumable
Your Savings on This Property
857 Morning Glory, Brighton · 2.87% FHA vs 6.5% conventional
$872
per month
$10,465
per year
$313,946
over 30 years
$313,023
interest saved
How gap financing works: The equity gap ($55,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,745, 5% of purchase price) and a second mortgage for the rest ($31,827 at 8.5%). 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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