Loan Comparison: 4.2% vs 6.5%
211 Stagecoach, Brighton, CO 80603 · 3bd/1ba · $399,999
List Price
$399,999
Assumable Rate
4.2%
Remaining Balance
$214,960
Equity Gap
$185,569
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$185,569
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.2% + gap loan
$2,324/moAssumed loan: $1,051/mo
Gap financing: $1,273/mo
$78less per month with the assumable
Your Savings on This Property
211 Stagecoach, Brighton · 4.2% FHA vs 6.5% conventional
$78
per month
$931
per year
$27,928
over 30 years
$28,458
interest saved
How gap financing works: The equity gap ($185,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($165,569 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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