Loan Comparison: 6.47% vs 6.5%
13130 Birch Way, Thornton, CO 80241 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
6.47%
Remaining Balance
$344,456
Equity Gap
$155,543
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$155,543
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.47% (FHA)
Blended Rate: 6.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 6.47% + gap loan
$3,083/moAssumed loan: $2,170/mo
Gap financing: $913/mo
Your Savings on This Property
13130 Birch Way, Thornton · 6.47% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($155,543) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($130,543 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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