Loan Comparison: 5.13% vs 6.5%
14540 Hudson Street, Thornton, CO 80233 · 4bd/2ba · $715,000
List Price
$715,000
Assumable Rate
5.13%
Remaining Balance
$594,193
Equity Gap
$120,807
Loan Type
FHAAdjust Your Scenario
$35,750
$35,750$120,807
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.13% (FHA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,293/moAssumable @ 5.13% + gap loan
$3,832/moAssumed loan: $3,237/mo
Gap financing: $595/mo
$461less per month with the assumable
Your Savings on This Property
14540 Hudson Street, Thornton · 5.13% FHA vs 6.5% conventional
$461
per month
$5,538
per year
$166,125
over 30 years
$166,125
interest saved
How gap financing works: The equity gap ($120,807) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,750, 5% of purchase price) and a second mortgage for the rest ($85,057 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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