Loan Comparison: 5.41% vs 6.5%
3461 Maple, Brighton, CO 80601 · 5bd/3ba · $625,000
List Price
$625,000
Assumable Rate
5.41%
Remaining Balance
$558,089
Equity Gap
$66,911
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$66,911
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 5.41% + gap loan
$3,412/moAssumed loan: $3,137/mo
Gap financing: $274/mo
$341less per month with the assumable
Your Savings on This Property
3461 Maple, Brighton · 5.41% FHA vs 6.5% conventional
$341
per month
$4,097
per year
$122,895
over 30 years
$122,895
interest saved
How gap financing works: The equity gap ($66,911) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($35,661 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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