Loan Comparison: 6.95% vs 6.5%
11221 Otis Street, Broomfield, CO 80020 · 3bd/2ba · $565,000
List Price
$565,000
Assumable Rate
6.95%
Remaining Balance
$404,824
Equity Gap
$160,176
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$160,176
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.95% (FHA)
Blended Rate: 7.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 6.95% + gap loan
$3,602/moAssumed loan: $2,680/mo
Gap financing: $922/mo
Your Savings on This Property
11221 Otis Street, Broomfield · 6.95% 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 ($160,176) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($131,926 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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