Loan Comparison: 3.42% vs 6.5%
3345 Chisholm, Boulder, CO 80301 · 2bd/1ba · $335,000
List Price
$335,000
Assumable Rate
3.42%
Remaining Balance
$311,754
Equity Gap
$23,246
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$23,246
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.42% (FHA)
Blended Rate: 3.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 3.42% + gap loan
$1,436/moAssumed loan: $1,386/mo
Gap financing: $50/mo
$576less per month with the assumable
Your Savings on This Property
3345 Chisholm, Boulder · 3.42% FHA vs 6.5% conventional
$576
per month
$6,907
per year
$207,208
over 30 years
$207,208
interest saved
How gap financing works: The equity gap ($23,246) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($6,496 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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