Loan Comparison: 4.4% vs 6.5%
4315 128th Place, Thornton, CO 80241 · 4bd/3ba · $475,000
List Price
$475,000
Assumable Rate
4.4%
Remaining Balance
$282,980
Equity Gap
$192,020
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$192,020
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.4% (FHA)
Blended Rate: 5.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 4.4% + gap loan
$2,594/moAssumed loan: $1,417/mo
Gap financing: $1,177/mo
$259less per month with the assumable
Your Savings on This Property
4315 128th Place, Thornton · 4.4% FHA vs 6.5% conventional
$259
per month
$3,103
per year
$93,091
over 30 years
$93,091
interest saved
How gap financing works: The equity gap ($192,020) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($168,270 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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