Loan Comparison: 2.39% vs 6.5%
4490 96th, Thornton, CO 80229 · 4bd/3ba · $537,500
List Price
$537,500
Assumable Rate
2.39%
Remaining Balance
$18,900
Equity Gap
$518,507
Loan Type
FHAAdjust Your Scenario
$26,875
$26,875$518,507
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (FHA)
Blended Rate: 8.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,227/moAssumable @ 2.39% + gap loan
$3,854/moAssumed loan: $74/mo
Gap financing: $3,780/mo
Your Savings on This Property
4490 96th, Thornton · 2.39% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($518,507) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,875, 5% of purchase price) and a second mortgage for the rest ($491,632 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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