Loan Comparison: 6.5% vs 6.5%
473 Interlocken Boulevard, Broomfield, CO 80021 ยท 1bd/1ba ยท $431,325
List Price
$431,325
Assumable Rate
6.5%
Remaining Balance
$385,658
Equity Gap
$45,666
Loan Type
FHAAdjust Your Scenario
$21,566
$21,566$45,666
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,590/moAssumable @ 6.5% + gap loan
$2,606/moAssumed loan: $2,438/mo
Gap financing: $169/mo
Your Savings on This Property
473 Interlocken Boulevard, Broomfield ยท 6.5% 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 ($45,666) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,566, 5% of purchase price) and a second mortgage for the rest ($24,100 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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