Loan Comparison: 2.74% vs 6.5%
7520 154th, Thornton, CO 80602 · 4bd/4ba · $889,400
List Price
$889,400
Assumable Rate
2.74%
Remaining Balance
$482,434
Equity Gap
$402,723
Loan Type
FHAAdjust Your Scenario
$44,470
$44,470$402,723
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,341/moAssumable @ 2.74% + gap loan
$4,722/moAssumed loan: $1,967/mo
Gap financing: $2,755/mo
$619less per month with the assumable
Your Savings on This Property
7520 154th, Thornton · 2.74% FHA vs 6.5% conventional
$619
per month
$7,427
per year
$222,817
over 30 years
$218,574
interest saved
How gap financing works: The equity gap ($402,723) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,470, 5% of purchase price) and a second mortgage for the rest ($358,253 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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