Loan Comparison: 6.63% vs 6.5%
14625 Vine Street, Thornton, CO 80602 · 4bd/3ba · $580,000
List Price
$580,000
Assumable Rate
6.63%
Remaining Balance
$530,292
Equity Gap
$49,708
Loan Type
FHAAdjust Your Scenario
$29,000
$29,000$49,708
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.63% (FHA)
Blended Rate: 6.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 6.63% + gap loan
$3,542/moAssumed loan: $3,397/mo
Gap financing: $145/mo
Your Savings on This Property
14625 Vine Street, Thornton · 6.63% 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 ($49,708) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($20,708 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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