Loan Comparison: 3.91% vs 6.5%
1838 98th Avenue, Thornton, CO 80229 · 5bd/2ba · $405,000
List Price
$405,000
Assumable Rate
3.91%
Remaining Balance
$155,552
Equity Gap
$249,447
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$249,447
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (FHA)
Blended Rate: 6.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.91% + gap loan
$2,337/moAssumed loan: $735/mo
Gap financing: $1,603/mo
$95less per month with the assumable
Your Savings on This Property
1838 98th Avenue, Thornton · 3.91% FHA vs 6.5% conventional
$95
per month
$1,137
per year
$34,100
over 30 years
$34,099
interest saved
How gap financing works: The equity gap ($249,447) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($229,197 at 7.5%). 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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