Loan Comparison: 2.87% vs 6.5%
12342 Newport, Brighton, CO 80602 · 3bd/1ba · $425,000
List Price
$425,000
Assumable Rate
2.87%
Remaining Balance
$405,576
Equity Gap
$75,559
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$75,559
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.87% + gap loan
$2,099/moAssumed loan: $1,682/mo
Gap financing: $418/mo
$453less per month with the assumable
Your Savings on This Property
12342 Newport, Brighton · 2.87% FHA vs 6.5% conventional
$453
per month
$5,433
per year
$162,995
over 30 years
$219,130
interest saved
How gap financing works: The equity gap ($75,559) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($54,309 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.
🏠
Back to This Listing
View photos, details, and request a showing for 12342 Newport.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.