Loan Comparison: 2.73% vs 6.5%
11512 Birch Street, Thornton, CO 80601 · 6bd/4ba · $550,000
List Price
$550,000
Assumable Rate
2.73%
Remaining Balance
$225,564
Equity Gap
$324,435
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$324,435
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.73% (FHA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.73% + gap loan
$2,995/moAssumed loan: $918/mo
Gap financing: $2,076/mo
$308less per month with the assumable
Your Savings on This Property
11512 Birch Street, Thornton · 2.73% FHA vs 6.5% conventional
$308
per month
$3,695
per year
$110,839
over 30 years
$110,838
interest saved
How gap financing works: The equity gap ($324,435) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($296,935 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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