Loan Comparison: 7.62% vs 6.5%
1850 Folsom Street, Boulder, CO 80302 · 2bd/3ba · $490,000
List Price
$490,000
Assumable Rate
7.62%
Remaining Balance
$437,622
Equity Gap
$52,378
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$52,378
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.62% (FHA)
Blended Rate: 7.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 7.62% + gap loan
$3,291/moAssumed loan: $3,096/mo
Gap financing: $195/mo
Your Savings on This Property
1850 Folsom Street, Boulder · 7.62% 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 ($52,378) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($27,878 at 7.5%). 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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