Loan Comparison: 3.08% vs 6.5%
7245 133rd Circle, Thornton, CO 80601 · 3bd/2ba · $685,000
List Price
$685,000
Assumable Rate
3.08%
Remaining Balance
$459,255
Equity Gap
$225,744
Loan Type
FHAAdjust Your Scenario
$34,250
$34,250$225,744
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 3.08% + gap loan
$3,295/moAssumed loan: $1,956/mo
Gap financing: $1,339/mo
$818less per month with the assumable
Your Savings on This Property
7245 133rd Circle, Thornton · 3.08% FHA vs 6.5% conventional
$818
per month
$9,817
per year
$294,523
over 30 years
$294,522
interest saved
How gap financing works: The equity gap ($225,744) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($191,494 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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