Loan Comparison: 3.45% vs 6.5%
480 Hayloft, Brighton, CO 80601 · 3bd/3ba · $404,950
List Price
$404,950
Assumable Rate
3.45%
Remaining Balance
$216,423
Equity Gap
$187,676
Loan Type
FHAAdjust Your Scenario
$20,248
$20,248$187,676
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.45% + gap loan
$2,253/moAssumed loan: $966/mo
Gap financing: $1,287/mo
$178less per month with the assumable
Your Savings on This Property
480 Hayloft, Brighton · 3.45% FHA vs 6.5% conventional
$178
per month
$2,141
per year
$64,224
over 30 years
$63,372
interest saved
How gap financing works: The equity gap ($187,676) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,248, 5% of purchase price) and a second mortgage for the rest ($167,428 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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