Loan Comparison: 2.89% vs 6.5%
8302 90th, Broomfield, CO 80021 · 5bd/4ba · $440,000
List Price
$440,000
Assumable Rate
2.89%
Remaining Balance
$333,176
Equity Gap
$150,147
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$150,147
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.89% + gap loan
$2,370/moAssumed loan: $1,385/mo
Gap financing: $985/mo
$272less per month with the assumable
Your Savings on This Property
8302 90th, Broomfield · 2.89% FHA vs 6.5% conventional
$272
per month
$3,261
per year
$97,816
over 30 years
$141,139
interest saved
How gap financing works: The equity gap ($150,147) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($128,147 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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