Loan Comparison: 3.61% vs 6.5%
1827 Opal, Brighton, CO 80603 · 4bd/3ba · $499,500
List Price
$499,500
Assumable Rate
3.61%
Remaining Balance
$317,809
Equity Gap
$180,983
Loan Type
FHAAdjust Your Scenario
$24,975
$24,975$180,983
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,999/moAssumable @ 3.61% + gap loan
$2,646/moAssumed loan: $1,447/mo
Gap financing: $1,200/mo
$353less per month with the assumable
Your Savings on This Property
1827 Opal, Brighton · 3.61% FHA vs 6.5% conventional
$353
per month
$4,237
per year
$127,103
over 30 years
$126,395
interest saved
How gap financing works: The equity gap ($180,983) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,975, 5% of purchase price) and a second mortgage for the rest ($156,008 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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