Loan Comparison: 2.87% vs 6.5%
12342 Newport, Brighton, CO 80602 · 3bd/1ba · $390,000
List Price
$390,000
Assumable Rate
2.87%
Remaining Balance
$348,669
Equity Gap
$40,559
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$40,559
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 2.87% + gap loan
$1,608/moAssumed loan: $1,446/mo
Gap financing: $162/mo
$734less per month with the assumable
Your Savings on This Property
12342 Newport, Brighton · 2.87% FHA vs 6.5% conventional
$734
per month
$8,811
per year
$264,318
over 30 years
$263,546
interest saved
How gap financing works: The equity gap ($40,559) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($21,059 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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