Loan Comparison: 6.5% vs 6.5%
14802 Snowcrest Drive, Broomfield, CO 80023 · 5bd/3ba · $1,200,000
List Price
$1,200,000
Assumable Rate
6.5%
Remaining Balance
$838,857
Equity Gap
$361,142
Loan Type
FHAAdjust Your Scenario
$60,000
$60,000$361,142
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,206/moAssumable @ 6.5% + gap loan
$7,408/moAssumed loan: $5,302/mo
Gap financing: $2,106/mo
Your Savings on This Property
14802 Snowcrest Drive, Broomfield · 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 ($361,142) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($60,000, 5% of purchase price) and a second mortgage for the rest ($301,142 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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