Loan Comparison: 7.78% vs 6.5%
3515 28th Street, Boulder, CO 80301 · 2bd/1ba · $400,000
List Price
$400,000
Assumable Rate
7.78%
Remaining Balance
$3,137
Equity Gap
$396,862
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$396,862
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.78% (FHA)
Blended Rate: 7.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 7.78% + gap loan
$2,658/moAssumed loan: $23/mo
Gap financing: $2,635/mo
Your Savings on This Property
3515 28th Street, Boulder · 7.78% 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 ($396,862) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($376,862 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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