Loan Comparison: 3.07% vs 6.5%
219 3rd, Brighton, CO 80601 · 4bd/2ba · $499,000
List Price
$499,000
Assumable Rate
3.07%
Remaining Balance
$401,091
Equity Gap
$95,361
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$95,361
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.07% + gap loan
$2,248/moAssumed loan: $1,706/mo
Gap financing: $541/mo
$749less per month with the assumable
Your Savings on This Property
219 3rd, Brighton · 3.07% FHA vs 6.5% conventional
$749
per month
$8,985
per year
$269,540
over 30 years
$266,992
interest saved
How gap financing works: The equity gap ($95,361) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($70,411 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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