Loan Comparison: 2.74% vs 6.5%
7520 154th, Thornton, CO 80602 · 4bd/4ba · $929,900
List Price
$929,900
Assumable Rate
2.74%
Remaining Balance
$484,560
Equity Gap
$445,339
Loan Type
FHAAdjust Your Scenario
$46,495
$46,495$445,339
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,584/moAssumable @ 2.74% + gap loan
$5,042/moAssumed loan: $1,976/mo
Gap financing: $3,067/mo
$541less per month with the assumable
Your Savings on This Property
7520 154th, Thornton · 2.74% FHA vs 6.5% conventional
$541
per month
$6,496
per year
$194,885
over 30 years
$194,884
interest saved
How gap financing works: The equity gap ($445,339) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,495, 5% of purchase price) and a second mortgage for the rest ($398,844 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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