Loan Comparison: 4.04% vs 6.5%
285 Whimsical, Brighton, CO 80603 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
4.04%
Remaining Balance
$182,968
Equity Gap
$216,932
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$216,932
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (FHA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 4.04% + gap loan
$2,392/moAssumed loan: $878/mo
Gap financing: $1,514/mo
$9less per month with the assumable
Your Savings on This Property
285 Whimsical, Brighton · 4.04% FHA vs 6.5% conventional
$9
per month
$111
per year
$3,327
over 30 years
$3,327
interest saved
How gap financing works: The equity gap ($216,932) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($196,937 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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