Loan Comparison: 6.5% vs 6.5%
13398 Olive Way, Thornton, CO 80602 · 3bd/3ba · $849,900
List Price
$849,900
Assumable Rate
6.5%
Remaining Balance
$665,662
Equity Gap
$184,237
Loan Type
FHAAdjust Your Scenario
$42,495
$42,495$184,237
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 6.5% + gap loan
$5,199/moAssumed loan: $4,207/mo
Gap financing: $991/mo
Your Savings on This Property
13398 Olive Way, Thornton · 6.5% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($184,237) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($141,742 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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