Loan Comparison: 2.89% vs 6.5%
12 Apache Plume, Brighton, CO 80601 · 4bd/3ba · $485,000
List Price
$485,000
Assumable Rate
2.89%
Remaining Balance
$346,094
Equity Gap
$141,309
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$141,309
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.89% + gap loan
$2,339/moAssumed loan: $1,439/mo
Gap financing: $900/mo
$573less per month with the assumable
Your Savings on This Property
12 Apache Plume, Brighton · 2.89% FHA vs 6.5% conventional
$573
per month
$6,882
per year
$206,452
over 30 years
$208,855
interest saved
How gap financing works: The equity gap ($141,309) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($117,059 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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