Loan Comparison: 3.47% vs 6.5%
1222 Madero, Broomfield, CO 80020 · 3bd/2ba · $394,900
List Price
$394,900
Assumable Rate
3.47%
Remaining Balance
$338,090
Equity Gap
$140,284
Loan Type
FHAAdjust Your Scenario
$19,745
$19,745$140,284
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,371/moAssumable @ 3.47% + gap loan
$2,439/moAssumed loan: $1,513/mo
Gap financing: $927/mo
Your Savings on This Property
1222 Madero, Broomfield · 3.47% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$58,949
interest saved
How gap financing works: The equity gap ($140,284) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,745, 5% of purchase price) and a second mortgage for the rest ($120,539 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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