Loan Comparison: 2.68% vs 6.5%
5185 Redbud, Brighton, CO 80601 · 6bd/5ba · $620,000
List Price
$620,000
Assumable Rate
2.68%
Remaining Balance
$351,276
Equity Gap
$270,372
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$270,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.68% + gap loan
$3,262/moAssumed loan: $1,421/mo
Gap financing: $1,841/mo
$461less per month with the assumable
Your Savings on This Property
5185 Redbud, Brighton · 2.68% FHA vs 6.5% conventional
$461
per month
$5,535
per year
$166,052
over 30 years
$167,700
interest saved
How gap financing works: The equity gap ($270,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($239,372 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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