Loan Comparison: 2.74% vs 6.5%
7520 154th, Thornton, CO 80602 · 4bd/4ba · $899,900
List Price
$899,900
Assumable Rate
2.74%
Remaining Balance
$483,498
Equity Gap
$416,401
Loan Type
FHAAdjust Your Scenario
$44,995
$44,995$416,401
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 2.74% + gap loan
$4,827/moAssumed loan: $1,971/mo
Gap financing: $2,856/mo
$577less per month with the assumable
Your Savings on This Property
7520 154th, Thornton · 2.74% FHA vs 6.5% conventional
$577
per month
$6,918
per year
$207,544
over 30 years
$207,543
interest saved
How gap financing works: The equity gap ($416,401) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,995, 5% of purchase price) and a second mortgage for the rest ($371,406 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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