Loan Comparison: 5.22% vs 6.5%
9080 Gale Boulevard, Thornton, CO 80260 · 2bd/1ba · $370,000
List Price
$370,000
Assumable Rate
5.22%
Remaining Balance
$336,618
Equity Gap
$33,382
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$33,382
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 5.22% + gap loan
$1,957/moAssumed loan: $1,853/mo
Gap financing: $104/mo
$265less per month with the assumable
Your Savings on This Property
9080 Gale Boulevard, Thornton · 5.22% FHA vs 6.5% conventional
$265
per month
$3,181
per year
$95,434
over 30 years
$95,434
interest saved
How gap financing works: The equity gap ($33,382) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($14,882 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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