Loan Comparison: 4% vs 6.5%
1909 101st Avenue, Thornton, CO 80229 · 2bd/2ba · $275,000
List Price
$275,000
Assumable Rate
4%
Remaining Balance
$110,153
Equity Gap
$164,847
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$164,847
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 4% + gap loan
$1,582/moAssumed loan: $526/mo
Gap financing: $1,056/mo
$69less per month with the assumable
Your Savings on This Property
1909 101st Avenue, Thornton · 4% FHA vs 6.5% conventional
$69
per month
$827
per year
$24,803
over 30 years
$24,803
interest saved
How gap financing works: The equity gap ($164,847) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($151,097 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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