Loan Comparison: 5.88% vs 6.5%
111 9th, Brighton, CO 80601 · 4bd/1ba · $339,000
List Price
$339,000
Assumable Rate
5.88%
Remaining Balance
$203,576
Equity Gap
$275,686
Loan Type
FHAAdjust Your Scenario
$16,950
$16,950$275,686
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.88% (FHA)
Blended Rate: 7.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,036/moAssumable @ 5.88% + gap loan
$3,194/moAssumed loan: $1,205/mo
Gap financing: $1,989/mo
Your Savings on This Property
111 9th, Brighton · 5.88% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($275,686) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,950, 5% of purchase price) and a second mortgage for the rest ($258,736 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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