Loan Comparison: 3.06% vs 6.5%
5363 Tall Spruce, Brighton, CO 80601 · 5bd/3ba · $585,000
List Price
$585,000
Assumable Rate
3.06%
Remaining Balance
$439,054
Equity Gap
$146,904
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$146,904
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.06% + gap loan
$2,770/moAssumed loan: $1,865/mo
Gap financing: $905/mo
$743less per month with the assumable
Your Savings on This Property
5363 Tall Spruce, Brighton · 3.06% FHA vs 6.5% conventional
$743
per month
$8,913
per year
$267,391
over 30 years
$268,349
interest saved
How gap financing works: The equity gap ($146,904) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($117,654 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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