Loan Comparison: 2.84% vs 6.5%
1717 Zephyr, Brighton, CO 80603 · 3bd/3ba · $449,000
List Price
$449,000
Assumable Rate
2.84%
Remaining Balance
$313,149
Equity Gap
$135,850
Loan Type
FHAAdjust Your Scenario
$22,450
$22,450$135,850
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,696/moAssumable @ 2.84% + gap loan
$2,165/moAssumed loan: $1,293/mo
Gap financing: $872/mo
$531less per month with the assumable
Your Savings on This Property
1717 Zephyr, Brighton · 2.84% FHA vs 6.5% conventional
$531
per month
$6,369
per year
$191,073
over 30 years
$191,072
interest saved
How gap financing works: The equity gap ($135,850) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,450, 5% of purchase price) and a second mortgage for the rest ($113,400 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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