Loan Comparison: 2.96% vs 6.5%
15714 Xenia Way, Thornton, CO 80601 · 3bd/2ba · $900,000
List Price
$900,000
Assumable Rate
2.96%
Remaining Balance
$508,112
Equity Gap
$391,887
Loan Type
FHAAdjust Your Scenario
$45,000
$45,000$391,887
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 2.96% + gap loan
$4,557/moAssumed loan: $2,131/mo
Gap financing: $2,425/mo
$847less per month with the assumable
Your Savings on This Property
15714 Xenia Way, Thornton · 2.96% FHA vs 6.5% conventional
$847
per month
$10,169
per year
$305,072
over 30 years
$305,071
interest saved
How gap financing works: The equity gap ($391,887) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,000, 5% of purchase price) and a second mortgage for the rest ($346,887 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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