Loan Comparison: 3.91% vs 6.5%
11321 Clermont Drive, Thornton, CO 80602 · 6bd/4ba · $539,900
List Price
$539,900
Assumable Rate
3.91%
Remaining Balance
$284,799
Equity Gap
$255,100
Loan Type
FHAAdjust Your Scenario
$26,995
$26,995$255,100
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (FHA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,242/moAssumable @ 3.91% + gap loan
$2,940/moAssumed loan: $1,345/mo
Gap financing: $1,595/mo
$302less per month with the assumable
Your Savings on This Property
11321 Clermont Drive, Thornton · 3.91% FHA vs 6.5% conventional
$302
per month
$3,624
per year
$108,730
over 30 years
$108,729
interest saved
How gap financing works: The equity gap ($255,100) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,995, 5% of purchase price) and a second mortgage for the rest ($228,105 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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