Loan Comparison: 2.81% vs 6.5%
2984 Kestrel, Brighton, CO 80601 · 3bd/2ba · $499,000
List Price
$499,000
Assumable Rate
2.81%
Remaining Balance
$390,384
Equity Gap
$138,819
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$138,819
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 2.81% + gap loan
$2,482/moAssumed loan: $1,606/mo
Gap financing: $876/mo
$515less per month with the assumable
Your Savings on This Property
2984 Kestrel, Brighton · 2.81% FHA vs 6.5% conventional
$515
per month
$6,175
per year
$185,264
over 30 years
$215,467
interest saved
How gap financing works: The equity gap ($138,819) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($113,869 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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