Loan Comparison: 4.82% vs 6.5%
2763 161st, Thornton, CO 80602 · 4bd/4ba · $700,000
List Price
$700,000
Assumable Rate
4.82%
Remaining Balance
$623,110
Equity Gap
$75,933
Loan Type
FHAAdjust Your Scenario
$35,000
$35,000$75,933
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.82% (FHA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 4.82% + gap loan
$3,592/moAssumed loan: $3,277/mo
Gap financing: $315/mo
$612less per month with the assumable
Your Savings on This Property
2763 161st, Thornton · 4.82% FHA vs 6.5% conventional
$612
per month
$7,341
per year
$220,224
over 30 years
$219,267
interest saved
How gap financing works: The equity gap ($75,933) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($40,933 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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