Loan Comparison: 3.08% vs 6.5%
145 10th, Brighton, CO 80601 · 3bd/1ba · $350,000
List Price
$350,000
Assumable Rate
3.08%
Remaining Balance
$237,572
Equity Gap
$152,428
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$152,428
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.08% + gap loan
$2,049/moAssumed loan: $1,012/mo
Gap financing: $1,037/mo
$52less per month with the assumable
Your Savings on This Property
145 10th, Brighton · 3.08% FHA vs 6.5% conventional
$52
per month
$627
per year
$18,811
over 30 years
$58,811
interest saved
How gap financing works: The equity gap ($152,428) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($134,928 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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