Loan Comparison: 3.61% vs 6.5%
1827 Opal, Brighton, CO 80603 · 4bd/3ba · $519,900
List Price
$519,900
Assumable Rate
3.61%
Remaining Balance
$319,927
Equity Gap
$201,383
Loan Type
FHAAdjust Your Scenario
$25,995
$25,995$201,383
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.61% + gap loan
$2,805/moAssumed loan: $1,456/mo
Gap financing: $1,349/mo
$317less per month with the assumable
Your Savings on This Property
1827 Opal, Brighton · 3.61% FHA vs 6.5% conventional
$317
per month
$3,803
per year
$114,085
over 30 years
$115,495
interest saved
How gap financing works: The equity gap ($201,383) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,995, 5% of purchase price) and a second mortgage for the rest ($175,388 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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