Loan Comparison: 6.35% vs 6.5%
6785 119th Avenue, Thornton, CO 80602 · 4bd/3ba · $659,999
List Price
$659,999
Assumable Rate
6.35%
Remaining Balance
$608,474
Equity Gap
$51,524
Loan Type
FHAAdjust Your Scenario
$33,000
$33,000$51,524
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (FHA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,963/moAssumable @ 6.35% + gap loan
$3,916/moAssumed loan: $3,786/mo
Gap financing: $130/mo
$47less per month with the assumable
Your Savings on This Property
6785 119th Avenue, Thornton · 6.35% FHA vs 6.5% conventional
$47
per month
$569
per year
$17,062
over 30 years
$17,061
interest saved
How gap financing works: The equity gap ($51,524) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,000, 5% of purchase price) and a second mortgage for the rest ($18,524 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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