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
$401,943
Equity Gap
$121,361
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$121,361
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
$2,441/moAssumed loan: $1,710/mo
Gap financing: $731/mo
$711less per month with the assumable
Your Savings on This Property
219 3rd, Brighton · 3.07% FHA vs 6.5% conventional
$711
per month
$8,536
per year
$256,067
over 30 years
$254,371
interest saved
How gap financing works: The equity gap ($121,361) 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 ($95,111 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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