Loan Comparison: 2.84% vs 6.5%
3546 Hottman, Brighton, CO 80601 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.84%
Remaining Balance
$455,378
Equity Gap
$71,646
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$71,646
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.84% + gap loan
$2,230/moAssumed loan: $1,881/mo
Gap financing: $349/mo
$923less per month with the assumable
Your Savings on This Property
3546 Hottman, Brighton · 2.84% FHA vs 6.5% conventional
$923
per month
$11,071
per year
$332,123
over 30 years
$334,147
interest saved
How gap financing works: The equity gap ($71,646) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($45,396 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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