Loan Comparison: 5.91% vs 6.5%
13803 Eudora Street, Thornton, CO 80602 · 3bd/2ba · $654,997
List Price
$654,997
Assumable Rate
5.91%
Remaining Balance
$96,640
Equity Gap
$558,356
Loan Type
FHAAdjust Your Scenario
$32,750
$32,750$558,356
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.91% (FHA)
Blended Rate: 7.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,933/moAssumable @ 5.91% + gap loan
$4,249/moAssumed loan: $574/mo
Gap financing: $3,675/mo
Your Savings on This Property
13803 Eudora Street, Thornton · 5.91% 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 ($558,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,750, 5% of purchase price) and a second mortgage for the rest ($525,606 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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