Loan Comparison: 4.17% vs 6.5%
1347 Lark, Brighton, CO 80601 · 3bd/1ba · $415,000
List Price
$415,000
Assumable Rate
4.17%
Remaining Balance
$385,467
Equity Gap
$46,314
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$46,314
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 4.17% + gap loan
$2,075/moAssumed loan: $1,878/mo
Gap financing: $197/mo
$417less per month with the assumable
Your Savings on This Property
1347 Lark, Brighton · 4.17% FHA vs 6.5% conventional
$417
per month
$5,005
per year
$150,158
over 30 years
$166,939
interest saved
How gap financing works: The equity gap ($46,314) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($25,564 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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