Loan Comparison: 2.68% vs 6.5%
354 Westin, Brighton, CO 80603 · 4bd/3ba · $480,000
List Price
$480,000
Assumable Rate
2.68%
Remaining Balance
$261,484
Equity Gap
$218,515
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$218,515
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 5.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.68% + gap loan
$2,553/moAssumed loan: $1,058/mo
Gap financing: $1,496/mo
$329less per month with the assumable
Your Savings on This Property
354 Westin, Brighton · 2.68% FHA vs 6.5% conventional
$329
per month
$3,945
per year
$118,355
over 30 years
$118,354
interest saved
How gap financing works: The equity gap ($218,515) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($194,515 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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