Loan Comparison: 2.18% vs 6.5%
12188 Hudson, Thornton, CO 80241 · 3bd/3ba · $495,000
List Price
$495,000
Assumable Rate
2.18%
Remaining Balance
$275,489
Equity Gap
$216,838
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$216,838
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.18% (FHA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 2.18% + gap loan
$2,520/moAssumed loan: $1,043/mo
Gap financing: $1,477/mo
$452less per month with the assumable
Your Savings on This Property
12188 Hudson, Thornton · 2.18% FHA vs 6.5% conventional
$452
per month
$5,425
per year
$162,746
over 30 years
$160,073
interest saved
How gap financing works: The equity gap ($216,838) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($192,088 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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