Loan Comparison: 3.62% vs 6.5%
59 13th, Brighton, CO 80601 · 6bd/2ba · $490,000
List Price
$490,000
Assumable Rate
3.62%
Remaining Balance
$328,700
Equity Gap
$251,387
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$251,387
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.62% + gap loan
$3,243/moAssumed loan: $1,498/mo
Gap financing: $1,745/mo
Your Savings on This Property
59 13th, Brighton · 3.62% 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 ($251,387) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($226,887 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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