Loan Comparison: 3.31% vs 6.5%
12729 Ulster, Thornton, CO 80602 · 2bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.31%
Remaining Balance
$329,806
Equity Gap
$110,193
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$110,193
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.31% + gap loan
$2,124/moAssumed loan: $1,446/mo
Gap financing: $678/mo
$518less per month with the assumable
Your Savings on This Property
12729 Ulster, Thornton · 3.31% FHA vs 6.5% conventional
$518
per month
$6,212
per year
$186,371
over 30 years
$186,370
interest saved
How gap financing works: The equity gap ($110,193) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($88,193 at 8.5%). 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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