Loan Comparison: 6.08% vs 6.5%
641 Badding Drive, Thornton, CO 80229 · 5bd/4ba · $465,000
List Price
$465,000
Assumable Rate
6.08%
Remaining Balance
$20,749
Equity Gap
$444,251
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$444,251
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.08% (FHA)
Blended Rate: 7.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 6.08% + gap loan
$3,069/moAssumed loan: $125/mo
Gap financing: $2,944/mo
Your Savings on This Property
641 Badding Drive, Thornton · 6.08% 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 ($444,251) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($421,001 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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