Loan Comparison: 3.91% vs 6.5%
1838 98th, Thornton, CO 80229 · 4bd/1ba · $405,000
List Price
$405,000
Assumable Rate
3.91%
Remaining Balance
$156,458
Equity Gap
$248,541
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$248,541
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (FHA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.91% + gap loan
$2,494/moAssumed loan: $739/mo
Gap financing: $1,755/mo
Your Savings on This Property
1838 98th, Thornton · 3.91% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($248,541) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($228,291 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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