Loan Comparison: 5.5% vs 6.5%
5564 Royal Pine, Brighton, CO 80601 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
5.5%
Remaining Balance
$483,538
Equity Gap
$68,112
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$68,112
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 5.5% + gap loan
$3,058/moAssumed loan: $2,745/mo
Gap financing: $312/mo
$245less per month with the assumable
Your Savings on This Property
5564 Royal Pine, Brighton · 5.5% FHA vs 6.5% conventional
$245
per month
$2,938
per year
$88,131
over 30 years
$89,781
interest saved
How gap financing works: The equity gap ($68,112) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($40,612 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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