Loan Comparison: 2.99% vs 6.5%
1081 Brio, Lochbuie, CO 80603 · 4bd/3ba · $509,900
List Price
$509,900
Assumable Rate
2.99%
Remaining Balance
$343,505
Equity Gap
$166,394
Loan Type
FHAAdjust Your Scenario
$25,495
$25,495$166,394
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (FHA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.99% + gap loan
$2,530/moAssumed loan: $1,446/mo
Gap financing: $1,083/mo
$532less per month with the assumable
Your Savings on This Property
1081 Brio, Lochbuie · 2.99% FHA vs 6.5% conventional
$532
per month
$6,384
per year
$191,520
over 30 years
$191,519
interest saved
How gap financing works: The equity gap ($166,394) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,495, 5% of purchase price) and a second mortgage for the rest ($140,899 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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