Loan Comparison: 5.23% vs 6.5%
730 35th Street, Boulder, CO 80303 · 1bd/1ba · $779,000
List Price
$779,000
Assumable Rate
5.23%
Remaining Balance
$524,418
Equity Gap
$254,581
Loan Type
FHAAdjust Your Scenario
$38,950
$38,950$254,581
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,678/moAssumable @ 5.23% + gap loan
$4,397/moAssumed loan: $2,889/mo
Gap financing: $1,508/mo
$281less per month with the assumable
Your Savings on This Property
730 35th Street, Boulder · 5.23% FHA vs 6.5% conventional
$281
per month
$3,366
per year
$100,992
over 30 years
$100,991
interest saved
How gap financing works: The equity gap ($254,581) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,950, 5% of purchase price) and a second mortgage for the rest ($215,631 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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