Loan Comparison: 7.18% vs 6.5%
7979 Marion Circle, Thornton, CO 80229 · 3bd/1ba · $385,000
List Price
$385,000
Assumable Rate
7.18%
Remaining Balance
$3,843
Equity Gap
$381,156
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$381,156
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.18% (FHA)
Blended Rate: 7.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 7.18% + gap loan
$2,557/moAssumed loan: $26/mo
Gap financing: $2,530/mo
Your Savings on This Property
7979 Marion Circle, Thornton · 7.18% 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 ($381,156) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($361,906 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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