Loan Comparison: 2.89% vs 6.5%
883 Macaw, Brighton, CO 80601 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
2.89%
Remaining Balance
$263,286
Equity Gap
$151,713
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$151,713
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 2.89% + gap loan
$2,101/moAssumed loan: $1,094/mo
Gap financing: $1,007/mo
$390less per month with the assumable
Your Savings on This Property
883 Macaw, Brighton · 2.89% FHA vs 6.5% conventional
$390
per month
$4,686
per year
$140,569
over 30 years
$140,568
interest saved
How gap financing works: The equity gap ($151,713) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($130,963 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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