Loan Comparison: 5.41% vs 6.5%
7438 157th, Thornton, CO 80602 · 4bd/3ba · $695,000
List Price
$695,000
Assumable Rate
5.41%
Remaining Balance
$560,637
Equity Gap
$134,363
Loan Type
FHAAdjust Your Scenario
$34,750
$34,750$134,363
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,173/moAssumable @ 5.41% + gap loan
$3,918/moAssumed loan: $3,152/mo
Gap financing: $766/mo
$256less per month with the assumable
Your Savings on This Property
7438 157th, Thornton · 5.41% FHA vs 6.5% conventional
$256
per month
$3,068
per year
$92,031
over 30 years
$92,031
interest saved
How gap financing works: The equity gap ($134,363) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,750, 5% of purchase price) and a second mortgage for the rest ($99,613 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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