Loan Comparison: 6.37% vs 6.5%
14601 Hudson Street, Thornton, CO 80233 · 3bd/3ba · $925,000
List Price
$925,000
Assumable Rate
6.37%
Remaining Balance
$867,224
Equity Gap
$57,776
Loan Type
FHAAdjust Your Scenario
$46,250
$46,250$57,776
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.37% (FHA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,554/moAssumable @ 6.37% + gap loan
$5,488/moAssumed loan: $5,408/mo
Gap financing: $81/mo
$66less per month with the assumable
Your Savings on This Property
14601 Hudson Street, Thornton · 6.37% FHA vs 6.5% conventional
$66
per month
$794
per year
$23,829
over 30 years
$23,829
interest saved
How gap financing works: The equity gap ($57,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,250, 5% of purchase price) and a second mortgage for the rest ($11,526 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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