Loan Comparison: 2.94% vs 6.5%
10429 Owens, Broomfield, CO 80021 · 3bd/2ba · $520,000
List Price
$520,000
Assumable Rate
2.94%
Remaining Balance
$339,153
Equity Gap
$178,514
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$178,514
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.94% + gap loan
$2,592/moAssumed loan: $1,419/mo
Gap financing: $1,173/mo
$531less per month with the assumable
Your Savings on This Property
10429 Owens, Broomfield · 2.94% FHA vs 6.5% conventional
$531
per month
$6,369
per year
$191,082
over 30 years
$188,749
interest saved
How gap financing works: The equity gap ($178,514) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($152,514 at 8.5%). 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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