Loan Comparison: 3.86% vs 6.5%
12430 Tamarac Street, Thornton, CO 80602 · 4bd/2ba · $799,000
List Price
$799,000
Assumable Rate
3.86%
Remaining Balance
$304,195
Equity Gap
$494,805
Loan Type
FHAAdjust Your Scenario
$39,950
$39,950$494,805
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.86% (FHA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,798/moAssumable @ 3.86% + gap loan
$4,608/moAssumed loan: $1,428/mo
Gap financing: $3,180/mo
$189less per month with the assumable
Your Savings on This Property
12430 Tamarac Street, Thornton · 3.86% FHA vs 6.5% conventional
$189
per month
$2,274
per year
$68,210
over 30 years
$68,210
interest saved
How gap financing works: The equity gap ($494,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,950, 5% of purchase price) and a second mortgage for the rest ($454,855 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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