Loan Comparison: 4.98% vs 6.5%
334 Octillo, Brighton, CO 80601 · 6bd/4ba · $639,900
List Price
$639,900
Assumable Rate
4.98%
Remaining Balance
$476,860
Equity Gap
$162,314
Loan Type
FHAAdjust Your Scenario
$31,995
$31,995$162,314
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,842/moAssumable @ 4.98% + gap loan
$3,556/moAssumed loan: $2,554/mo
Gap financing: $1,002/mo
$286less per month with the assumable
Your Savings on This Property
334 Octillo, Brighton · 4.98% FHA vs 6.5% conventional
$286
per month
$3,435
per year
$103,057
over 30 years
$102,331
interest saved
How gap financing works: The equity gap ($162,314) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,995, 5% of purchase price) and a second mortgage for the rest ($130,319 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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