Loan Comparison: 4.25% vs 6.5%
1620 August, Brighton, CO 80601 · 5bd/2ba · $520,000
List Price
$520,000
Assumable Rate
4.25%
Remaining Balance
$92,827
Equity Gap
$426,372
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$426,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.25% (FHA)
Blended Rate: 7.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 4.25% + gap loan
$3,535/moAssumed loan: $457/mo
Gap financing: $3,079/mo
Your Savings on This Property
1620 August, Brighton · 4.25% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($426,372) 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 ($400,372 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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