Loan Comparison: 4.46% vs 6.5%
6980 121st, Thornton, CO 80602 · 4bd/3ba · $605,000
List Price
$605,000
Assumable Rate
4.46%
Remaining Balance
$380,431
Equity Gap
$221,428
Loan Type
FHAAdjust Your Scenario
$30,250
$30,250$221,428
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (FHA)
Blended Rate: 5.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,633/moAssumable @ 4.46% + gap loan
$3,389/moAssumed loan: $1,919/mo
Gap financing: $1,470/mo
$244less per month with the assumable
Your Savings on This Property
6980 121st, Thornton · 4.46% FHA vs 6.5% conventional
$244
per month
$2,931
per year
$87,934
over 30 years
$84,793
interest saved
How gap financing works: The equity gap ($221,428) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,250, 5% of purchase price) and a second mortgage for the rest ($191,178 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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