Loan Comparison: 6.5% vs 6.5%
13752 Garfield Street, Thornton, CO 80602 · 5bd/5ba · $384,900
List Price
$384,900
Assumable Rate
6.5%
Remaining Balance
$320,305
Equity Gap
$64,595
Loan Type
FHAAdjust Your Scenario
$19,245
$19,245$64,595
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,311/moAssumable @ 6.5% + gap loan
$2,342/moAssumed loan: $2,025/mo
Gap financing: $317/mo
Your Savings on This Property
13752 Garfield Street, Thornton · 6.5% 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 ($64,595) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,245, 5% of purchase price) and a second mortgage for the rest ($45,350 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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