Loan Comparison: 2.71% vs 6.5%
846 132nd Drive, Thornton, CO 80023 · 2bd/3ba · $575,000
List Price
$575,000
Assumable Rate
2.71%
Remaining Balance
$419,773
Equity Gap
$155,227
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$155,227
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.71% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.71% + gap loan
$2,589/moAssumed loan: $1,705/mo
Gap financing: $884/mo
$864less per month with the assumable
Your Savings on This Property
846 132nd Drive, Thornton · 2.71% FHA vs 6.5% conventional
$864
per month
$10,362
per year
$310,867
over 30 years
$310,867
interest saved
How gap financing works: The equity gap ($155,227) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($126,477 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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