Loan Comparison: 3.61% vs 6.5%
455 35th, Brighton, CO 80601 · 5bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.61%
Remaining Balance
$343,537
Equity Gap
$206,463
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$206,463
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.61% + gap loan
$2,940/moAssumed loan: $1,564/mo
Gap financing: $1,376/mo
$363less per month with the assumable
Your Savings on This Property
455 35th, Brighton · 3.61% FHA vs 6.5% conventional
$363
per month
$4,352
per year
$130,564
over 30 years
$130,564
interest saved
How gap financing works: The equity gap ($206,463) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($178,963 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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