Loan Comparison: 3.07% vs 6.5%
13342 Newport Circle, Thornton, CO 80601 · 5bd/3ba · $649,900
List Price
$649,900
Assumable Rate
3.07%
Remaining Balance
$467,848
Equity Gap
$182,052
Loan Type
FHAAdjust Your Scenario
$32,495
$32,495$182,052
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,902/moAssumable @ 3.07% + gap loan
$3,036/moAssumed loan: $1,990/mo
Gap financing: $1,046/mo
$867less per month with the assumable
Your Savings on This Property
13342 Newport Circle, Thornton · 3.07% FHA vs 6.5% conventional
$867
per month
$10,398
per year
$311,948
over 30 years
$311,948
interest saved
How gap financing works: The equity gap ($182,052) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,495, 5% of purchase price) and a second mortgage for the rest ($149,557 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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