Loan Comparison: 3.96% vs 6.5%
9360 Nagel Drive, Thornton, CO 80229 · 6bd/4ba · $390,000
List Price
$390,000
Assumable Rate
3.96%
Remaining Balance
$188,944
Equity Gap
$201,055
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$201,055
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (FHA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.96% + gap loan
$2,167/moAssumed loan: $898/mo
Gap financing: $1,269/mo
$175less per month with the assumable
Your Savings on This Property
9360 Nagel Drive, Thornton · 3.96% FHA vs 6.5% conventional
$175
per month
$2,096
per year
$62,877
over 30 years
$62,876
interest saved
How gap financing works: The equity gap ($201,055) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($181,555 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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