Loan Comparison: 3.1% vs 6.5%
6655 Monaco, Brighton, CO 80602 · 2bd/1ba · $449,000
List Price
$449,000
Assumable Rate
3.1%
Remaining Balance
$387,900
Equity Gap
$60,280
Loan Type
FHAAdjust Your Scenario
$22,450
$22,450$60,280
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,696/moAssumable @ 3.1% + gap loan
$1,947/moAssumed loan: $1,656/mo
Gap financing: $291/mo
$749less per month with the assumable
Your Savings on This Property
6655 Monaco, Brighton · 3.1% FHA vs 6.5% conventional
$749
per month
$8,986
per year
$269,571
over 30 years
$268,751
interest saved
How gap financing works: The equity gap ($60,280) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,450, 5% of purchase price) and a second mortgage for the rest ($37,830 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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