Loan Comparison: 3.31% vs 6.5%
12729 Ulster, Thornton, CO 80602 · 2bd/3ba · $410,000
List Price
$410,000
Assumable Rate
3.31%
Remaining Balance
$326,848
Equity Gap
$83,152
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$83,152
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 3.31% + gap loan
$1,915/moAssumed loan: $1,433/mo
Gap financing: $482/mo
$547less per month with the assumable
Your Savings on This Property
12729 Ulster, Thornton · 3.31% FHA vs 6.5% conventional
$547
per month
$6,563
per year
$196,890
over 30 years
$196,890
interest saved
How gap financing works: The equity gap ($83,152) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($62,652 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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