Loan Comparison: 5.41% vs 6.5%
12965 Grant Drive, Thornton, CO 80241 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
5.41%
Remaining Balance
$388,418
Equity Gap
$41,581
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$41,581
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 5.41% + gap loan
$2,324/moAssumed loan: $2,184/mo
Gap financing: $140/mo
$258less per month with the assumable
Your Savings on This Property
12965 Grant Drive, Thornton · 5.41% FHA vs 6.5% conventional
$258
per month
$3,097
per year
$92,908
over 30 years
$92,907
interest saved
How gap financing works: The equity gap ($41,581) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($20,081 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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