Loan Comparison: 4.99% vs 6.5%
7427 159th, Thornton, CO 80602 · 5bd/3ba · $660,000
List Price
$660,000
Assumable Rate
4.99%
Remaining Balance
$618,078
Equity Gap
$40,058
Loan Type
FHAAdjust Your Scenario
$33,000
$33,000$40,058
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (FHA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,963/moAssumable @ 4.99% + gap loan
$3,368/moAssumed loan: $3,314/mo
Gap financing: $54/mo
$595less per month with the assumable
Your Savings on This Property
7427 159th, Thornton · 4.99% FHA vs 6.5% conventional
$595
per month
$7,135
per year
$214,055
over 30 years
$212,191
interest saved
How gap financing works: The equity gap ($40,058) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,000, 5% of purchase price) and a second mortgage for the rest ($7,058 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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