Loan Comparison: 4.75% vs 6.5%
5860 153rd, Thornton, CO 80602 · 5bd/4ba · $765,000
List Price
$765,000
Assumable Rate
4.75%
Remaining Balance
$629,342
Equity Gap
$134,772
Loan Type
FHAAdjust Your Scenario
$38,250
$38,250$134,772
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,594/moAssumable @ 4.75% + gap loan
$4,025/moAssumed loan: $3,283/mo
Gap financing: $742/mo
$568less per month with the assumable
Your Savings on This Property
5860 153rd, Thornton · 4.75% FHA vs 6.5% conventional
$568
per month
$6,821
per year
$204,638
over 30 years
$203,752
interest saved
How gap financing works: The equity gap ($134,772) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,250, 5% of purchase price) and a second mortgage for the rest ($96,522 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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