Loan Comparison: 2.83% vs 6.5%
84 Shenandoah, Brighton, CO 80603 · 4bd/2ba · $440,000
List Price
$440,000
Assumable Rate
2.83%
Remaining Balance
$295,558
Equity Gap
$144,442
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$144,442
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.83% + gap loan
$2,161/moAssumed loan: $1,219/mo
Gap financing: $941/mo
$481less per month with the assumable
Your Savings on This Property
84 Shenandoah, Brighton · 2.83% FHA vs 6.5% conventional
$481
per month
$5,777
per year
$173,312
over 30 years
$173,312
interest saved
How gap financing works: The equity gap ($144,442) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($122,442 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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