Loan Comparison: 2.96% vs 6.5%
44 10th, Brighton, CO 80601 · 2bd/1ba · $355,000
List Price
$355,000
Assumable Rate
2.96%
Remaining Balance
$264,042
Equity Gap
$90,958
Loan Type
FHAAdjust Your Scenario
$17,750
$17,750$90,958
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 2.96% + gap loan
$1,670/moAssumed loan: $1,108/mo
Gap financing: $563/mo
$461less per month with the assumable
Your Savings on This Property
44 10th, Brighton · 2.96% FHA vs 6.5% conventional
$461
per month
$5,535
per year
$166,039
over 30 years
$166,039
interest saved
How gap financing works: The equity gap ($90,958) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($73,208 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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