Loan Comparison: 3.57% vs 6.5%
4820 Yates, Broomfield, CO 80020 · 5bd/4ba · $620,000
List Price
$620,000
Assumable Rate
3.57%
Remaining Balance
$302,283
Equity Gap
$316,053
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$316,053
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (FHA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 3.57% + gap loan
$3,561/moAssumed loan: $1,369/mo
Gap financing: $2,192/mo
$162less per month with the assumable
Your Savings on This Property
4820 Yates, Broomfield · 3.57% FHA vs 6.5% conventional
$162
per month
$1,942
per year
$58,264
over 30 years
$56,600
interest saved
How gap financing works: The equity gap ($316,053) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($285,053 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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