Loan Comparison: 4.75% vs 6.5%
5860 153rd, Thornton, CO 80602 · 5bd/4ba · $749,950
List Price
$749,950
Assumable Rate
4.75%
Remaining Balance
$628,452
Equity Gap
$119,722
Loan Type
FHAAdjust Your Scenario
$37,498
$37,498$119,722
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (FHA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 4.75% + gap loan
$3,911/moAssumed loan: $3,278/mo
Gap financing: $632/mo
$593less per month with the assumable
Your Savings on This Property
5860 153rd, Thornton · 4.75% FHA vs 6.5% conventional
$593
per month
$7,112
per year
$213,354
over 30 years
$211,577
interest saved
How gap financing works: The equity gap ($119,722) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,498, 5% of purchase price) and a second mortgage for the rest ($82,224 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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