Loan Comparison: 2.89% vs 6.5%
8302 90th, Broomfield, CO 80021 · 5bd/4ba · $435,000
List Price
$435,000
Assumable Rate
2.89%
Remaining Balance
$289,853
Equity Gap
$145,147
Loan Type
FHAAdjust Your Scenario
$21,750
$21,750$145,147
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.89% + gap loan
$2,154/moAssumed loan: $1,205/mo
Gap financing: $949/mo
$458less per month with the assumable
Your Savings on This Property
8302 90th, Broomfield · 2.89% FHA vs 6.5% conventional
$458
per month
$5,500
per year
$164,989
over 30 years
$164,989
interest saved
How gap financing works: The equity gap ($145,147) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($123,397 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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