Loan Comparison: 6.63% vs 6.5%
7077 126th Place, Thornton, CO 80602 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
6.63%
Remaining Balance
$594,774
Equity Gap
$35,226
Loan Type
FHAAdjust Your Scenario
$31,500
$31,500$35,226
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.63% (FHA)
Blended Rate: 6.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 6.63% + gap loan
$3,836/moAssumed loan: $3,810/mo
Gap financing: $26/mo
Your Savings on This Property
7077 126th Place, 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 ($35,226) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($3,726 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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