Loan Comparison: 3.31% vs 6.5%
9330 Lilly Court, Thornton, CO 80229 · 4bd/2ba · $374,900
List Price
$374,900
Assumable Rate
3.31%
Remaining Balance
$294,255
Equity Gap
$80,644
Loan Type
FHAAdjust Your Scenario
$18,745
$18,745$80,644
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,251/moAssumable @ 3.31% + gap loan
$1,723/moAssumed loan: $1,290/mo
Gap financing: $433/mo
$528less per month with the assumable
Your Savings on This Property
9330 Lilly Court, Thornton · 3.31% FHA vs 6.5% conventional
$528
per month
$6,336
per year
$190,083
over 30 years
$190,082
interest saved
How gap financing works: The equity gap ($80,644) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,745, 5% of purchase price) and a second mortgage for the rest ($61,899 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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