Loan Comparison: 3.1% vs 6.5%
800 7th, Brighton, CO 80601 · 5bd/2ba · $500,000
List Price
$500,000
Assumable Rate
3.1%
Remaining Balance
$334,068
Equity Gap
$166,633
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$166,633
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.1% + gap loan
$2,516/moAssumed loan: $1,427/mo
Gap financing: $1,089/mo
$487less per month with the assumable
Your Savings on This Property
800 7th, Brighton · 3.1% FHA vs 6.5% conventional
$487
per month
$5,841
per year
$175,235
over 30 years
$175,936
interest saved
How gap financing works: The equity gap ($166,633) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($141,633 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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