Loan Comparison: 3.1% vs 6.5%
12105 Newport, Brighton, CO 80602 · 5bd/2ba · $500,000
List Price
$500,000
Assumable Rate
3.1%
Remaining Balance
$355,393
Equity Gap
$144,606
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$144,606
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 4.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.1% + gap loan
$2,437/moAssumed loan: $1,518/mo
Gap financing: $920/mo
$565less per month with the assumable
Your Savings on This Property
12105 Newport, Brighton · 3.1% FHA vs 6.5% conventional
$565
per month
$6,781
per year
$203,425
over 30 years
$203,424
interest saved
How gap financing works: The equity gap ($144,606) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($119,606 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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