Loan Comparison: 3.31% vs 6.5%
628 16th, Brighton, CO 80601 · 3bd/3ba · $570,000
List Price
$570,000
Assumable Rate
3.31%
Remaining Balance
$435,003
Equity Gap
$215,794
Loan Type
FHAAdjust Your Scenario
$28,500
$28,500$215,794
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 3.31% + gap loan
$3,348/moAssumed loan: $1,908/mo
Gap financing: $1,440/mo
$75less per month with the assumable
Your Savings on This Property
628 16th, Brighton · 3.31% FHA vs 6.5% conventional
$75
per month
$900
per year
$27,002
over 30 years
$107,799
interest saved
How gap financing works: The equity gap ($215,794) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($187,294 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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