Loan Comparison: 2.87% vs 6.5%
16733 Beaumont, Mead, CO 80542 · 3bd/3ba · $499,990
List Price
$499,990
Assumable Rate
2.87%
Remaining Balance
$356,663
Equity Gap
$157,045
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$157,045
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.87% + gap loan
$2,494/moAssumed loan: $1,479/mo
Gap financing: $1,015/mo
$508less per month with the assumable
Your Savings on This Property
16733 Beaumont, Mead · 2.87% FHA vs 6.5% conventional
$508
per month
$6,098
per year
$182,929
over 30 years
$196,647
interest saved
How gap financing works: The equity gap ($157,045) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($132,045 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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