Loan Comparison: 2.18% vs 6.5%
12188 Hudson, Thornton, CO 80241 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.18%
Remaining Balance
$276,159
Equity Gap
$238,840
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$238,840
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.18% (FHA)
Blended Rate: 4.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.18% + gap loan
$2,684/moAssumed loan: $1,046/mo
Gap financing: $1,638/mo
$408less per month with the assumable
Your Savings on This Property
12188 Hudson, Thornton · 2.18% FHA vs 6.5% conventional
$408
per month
$4,898
per year
$146,931
over 30 years
$146,930
interest saved
How gap financing works: The equity gap ($238,840) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($213,090 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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