Loan Comparison: 3.59% vs 6.5%
2557 133rd Circle, Broomfield, CO 80020 · 2bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.59%
Remaining Balance
$166,986
Equity Gap
$283,013
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$283,013
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.59% (FHA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.59% + gap loan
$2,580/moAssumed loan: $758/mo
Gap financing: $1,822/mo
$122less per month with the assumable
Your Savings on This Property
2557 133rd Circle, Broomfield · 3.59% FHA vs 6.5% conventional
$122
per month
$1,467
per year
$44,024
over 30 years
$44,023
interest saved
How gap financing works: The equity gap ($283,013) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($260,513 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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