Loan Comparison: 3.61% vs 6.5%
455 35th, Brighton, CO 80601 · 5bd/3ba · $520,000
List Price
$520,000
Assumable Rate
3.61%
Remaining Balance
$342,773
Equity Gap
$176,463
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$176,463
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.61% + gap loan
$2,717/moAssumed loan: $1,560/mo
Gap financing: $1,157/mo
$405less per month with the assumable
Your Savings on This Property
455 35th, Brighton · 3.61% FHA vs 6.5% conventional
$405
per month
$4,862
per year
$145,857
over 30 years
$145,093
interest saved
How gap financing works: The equity gap ($176,463) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($150,463 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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