Loan Comparison: 6.11% vs 6.5%
1310 Laurel Street, Broomfield, CO 80020 · 4bd/3ba · $786,000
List Price
$786,000
Assumable Rate
6.11%
Remaining Balance
$426,335
Equity Gap
$359,664
Loan Type
FHAAdjust Your Scenario
$39,300
$39,300$359,664
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (FHA)
Blended Rate: 6.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,720/moAssumable @ 6.11% + gap loan
$4,826/moAssumed loan: $2,586/mo
Gap financing: $2,240/mo
Your Savings on This Property
1310 Laurel Street, Broomfield · 6.11% 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 ($359,664) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,300, 5% of purchase price) and a second mortgage for the rest ($320,364 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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