Loan Comparison: 3.23% vs 6.5%
187 Apache Plume, Brighton, CO 80601 · 3bd/3ba · $528,000
List Price
$528,000
Assumable Rate
3.23%
Remaining Balance
$348,791
Equity Gap
$180,786
Loan Type
FHAAdjust Your Scenario
$26,400
$26,400$180,786
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,170/moAssumable @ 3.23% + gap loan
$2,701/moAssumed loan: $1,514/mo
Gap financing: $1,187/mo
$469less per month with the assumable
Your Savings on This Property
187 Apache Plume, Brighton · 3.23% FHA vs 6.5% conventional
$469
per month
$5,631
per year
$168,921
over 30 years
$170,498
interest saved
How gap financing works: The equity gap ($180,786) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,400, 5% of purchase price) and a second mortgage for the rest ($154,386 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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