Loan Comparison: 4.25% vs 6.5%
3351 Boral Owl, Brighton, CO 80601 · 3bd/3ba · $540,000
List Price
$540,000
Assumable Rate
4.25%
Remaining Balance
$450,449
Equity Gap
$90,918
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$90,918
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.25% (FHA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 4.25% + gap loan
$2,707/moAssumed loan: $2,216/mo
Gap financing: $491/mo
$535less per month with the assumable
Your Savings on This Property
3351 Boral Owl, Brighton · 4.25% FHA vs 6.5% conventional
$535
per month
$6,421
per year
$192,635
over 30 years
$194,002
interest saved
How gap financing works: The equity gap ($90,918) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($63,918 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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