Loan Comparison: 3.1% vs 6.5%
12105 Newport, Brighton, CO 80602 · 5bd/2ba · $490,000
List Price
$490,000
Assumable Rate
3.1%
Remaining Balance
$354,651
Equity Gap
$135,349
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$135,349
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.1% + gap loan
$2,367/moAssumed loan: $1,514/mo
Gap financing: $852/mo
$576less per month with the assumable
Your Savings on This Property
12105 Newport, Brighton · 3.1% FHA vs 6.5% conventional
$576
per month
$6,906
per year
$207,189
over 30 years
$207,189
interest saved
How gap financing works: The equity gap ($135,349) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($110,849 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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