Loan Comparison: 2.98% vs 6.5%
450 9th, Brighton, CO 80601 · 4bd/2ba · $460,000
List Price
$460,000
Assumable Rate
2.98%
Remaining Balance
$257,492
Equity Gap
$305,470
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$305,470
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 5.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.98% + gap loan
$3,255/moAssumed loan: $1,083/mo
Gap financing: $2,172/mo
Your Savings on This Property
450 9th, Brighton · 2.98% 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 ($305,470) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($282,470 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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