Loan Comparison: 2.87% vs 6.5%
253 45th, Brighton, CO 80601 · 3bd/3ba · $565,000
List Price
$565,000
Assumable Rate
2.87%
Remaining Balance
$430,525
Equity Gap
$184,475
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$184,475
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.87% + gap loan
$2,986/moAssumed loan: $1,785/mo
Gap financing: $1,201/mo
$406less per month with the assumable
Your Savings on This Property
253 45th, Brighton · 2.87% FHA vs 6.5% conventional
$406
per month
$4,876
per year
$146,277
over 30 years
$196,277
interest saved
How gap financing works: The equity gap ($184,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($156,225 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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