Loan Comparison: 3.34% vs 6.5%
9701 Eaton Street, Broomfield, CO 80020 · 5bd/3ba · $875,000
List Price
$875,000
Assumable Rate
3.34%
Remaining Balance
$510,851
Equity Gap
$364,149
Loan Type
FHAAdjust Your Scenario
$43,750
$43,750$364,149
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (FHA)
Blended Rate: 4.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 3.34% + gap loan
$4,489/moAssumed loan: $2,249/mo
Gap financing: $2,240/mo
$765less per month with the assumable
Your Savings on This Property
9701 Eaton Street, Broomfield · 3.34% FHA vs 6.5% conventional
$765
per month
$9,183
per year
$275,480
over 30 years
$275,480
interest saved
How gap financing works: The equity gap ($364,149) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($320,399 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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