Loan Comparison: 2.88% vs 6.5%
9971 Holland, Broomfield, CO 80021 · 3bd/3ba · $625,000
List Price
$625,000
Assumable Rate
2.88%
Remaining Balance
$457,799
Equity Gap
$215,997
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$215,997
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 4.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.88% + gap loan
$3,321/moAssumed loan: $1,901/mo
Gap financing: $1,421/mo
$432less per month with the assumable
Your Savings on This Property
9971 Holland, Broomfield · 2.88% FHA vs 6.5% conventional
$432
per month
$5,181
per year
$155,434
over 30 years
$204,230
interest saved
How gap financing works: The equity gap ($215,997) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($184,747 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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