Loan Comparison: 2.98% vs 6.5%
61 17th Avdr, Brighton, CO 80601 · 6bd/3ba · $449,900
List Price
$449,900
Assumable Rate
2.98%
Remaining Balance
$401,418
Equity Gap
$72,032
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$72,032
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.98% + gap loan
$2,069/moAssumed loan: $1,688/mo
Gap financing: $381/mo
$633less per month with the assumable
Your Savings on This Property
61 17th Avdr, Brighton · 2.98% FHA vs 6.5% conventional
$633
per month
$7,590
per year
$227,709
over 30 years
$251,259
interest saved
How gap financing works: The equity gap ($72,032) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($49,537 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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