Loan Comparison: 3.31% vs 6.5%
12729 Ulster Street, Thornton, CO 80602 · 2bd/2ba · $399,000
List Price
$399,000
Assumable Rate
3.31%
Remaining Balance
$326,103
Equity Gap
$72,896
Loan Type
FHAAdjust Your Scenario
$19,950
$19,950$72,896
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 3.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 3.31% + gap loan
$1,800/moAssumed loan: $1,430/mo
Gap financing: $370/mo
$596less per month with the assumable
Your Savings on This Property
12729 Ulster Street, Thornton · 3.31% FHA vs 6.5% conventional
$596
per month
$7,148
per year
$214,440
over 30 years
$214,439
interest saved
How gap financing works: The equity gap ($72,896) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($52,946 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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