Loan Comparison: 2.68% vs 6.5%
5185 Redbud, Brighton, CO 80601 · 6bd/5ba · $579,000
List Price
$579,000
Assumable Rate
2.68%
Remaining Balance
$349,627
Equity Gap
$229,372
Loan Type
FHAAdjust Your Scenario
$28,950
$28,950$229,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 2.68% + gap loan
$2,955/moAssumed loan: $1,414/mo
Gap financing: $1,541/mo
$521less per month with the assumable
Your Savings on This Property
5185 Redbud, Brighton · 2.68% FHA vs 6.5% conventional
$521
per month
$6,255
per year
$187,642
over 30 years
$187,641
interest saved
How gap financing works: The equity gap ($229,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($200,422 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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