Loan Comparison: 2.87% vs 6.5%
12342 Newport, Brighton, CO 80602 · 3bd/1ba · $380,000
List Price
$380,000
Assumable Rate
2.87%
Remaining Balance
$347,894
Equity Gap
$32,105
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$32,105
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 2.87% + gap loan
$1,543/moAssumed loan: $1,442/mo
Gap financing: $101/mo
$739less per month with the assumable
Your Savings on This Property
12342 Newport, Brighton · 2.87% FHA vs 6.5% conventional
$739
per month
$8,863
per year
$265,875
over 30 years
$265,874
interest saved
How gap financing works: The equity gap ($32,105) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($13,105 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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