Loan Comparison: 4.07% vs 6.5%
4659 Spinning Wheel, Brighton, CO 80601 · 3bd/3ba · $745,000
List Price
$745,000
Assumable Rate
4.07%
Remaining Balance
$260,900
Equity Gap
$484,657
Loan Type
FHAAdjust Your Scenario
$37,250
$37,250$484,657
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 6.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,473/moAssumable @ 4.07% + gap loan
$4,696/moAssumed loan: $1,256/mo
Gap financing: $3,440/mo
Your Savings on This Property
4659 Spinning Wheel, Brighton · 4.07% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($484,657) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,250, 5% of purchase price) and a second mortgage for the rest ($447,407 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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