Loan Comparison: 3.07% vs 6.5%
219 3rd, Brighton, CO 80601 · 4bd/2ba · $525,000
List Price
$525,000
Assumable Rate
3.07%
Remaining Balance
$402,792
Equity Gap
$122,208
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$122,208
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.07% + gap loan
$2,451/moAssumed loan: $1,713/mo
Gap financing: $738/mo
$701less per month with the assumable
Your Savings on This Property
219 3rd, Brighton · 3.07% FHA vs 6.5% conventional
$701
per month
$8,414
per year
$252,423
over 30 years
$252,423
interest saved
How gap financing works: The equity gap ($122,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($95,958 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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