Loan Comparison: 3.56% vs 6.5%
11982 Bellaire Street, Thornton, CO 80022 · 5bd/3ba · $269,900
List Price
$269,900
Assumable Rate
3.56%
Remaining Balance
$186,517
Equity Gap
$83,383
Loan Type
FHAAdjust Your Scenario
$13,495
$13,495$83,383
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.56% + gap loan
$1,332/moAssumed loan: $844/mo
Gap financing: $489/mo
$288less per month with the assumable
Your Savings on This Property
11982 Bellaire Street, Thornton · 3.56% FHA vs 6.5% conventional
$288
per month
$3,458
per year
$103,746
over 30 years
$103,746
interest saved
How gap financing works: The equity gap ($83,383) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,495, 5% of purchase price) and a second mortgage for the rest ($69,888 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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