Loan Comparison: 3.62% vs 6.5%
393 Ash, Brighton, CO 80601 · 4bd/2ba · $465,000
List Price
$465,000
Assumable Rate
3.62%
Remaining Balance
$266,038
Equity Gap
$209,143
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$209,143
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.62% + gap loan
$2,642/moAssumed loan: $1,213/mo
Gap financing: $1,429/mo
$150less per month with the assumable
Your Savings on This Property
393 Ash, Brighton · 3.62% FHA vs 6.5% conventional
$150
per month
$1,803
per year
$54,102
over 30 years
$64,283
interest saved
How gap financing works: The equity gap ($209,143) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($185,893 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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