Loan Comparison: 2.39% vs 6.5%
4490 96th, Thornton, CO 80229 · 4bd/3ba · $555,555
List Price
$555,555
Assumable Rate
2.39%
Remaining Balance
$18,946
Equity Gap
$536,562
Loan Type
FHAAdjust Your Scenario
$27,778
$27,778$536,562
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (FHA)
Blended Rate: 8.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,336/moAssumable @ 2.39% + gap loan
$3,986/moAssumed loan: $74/mo
Gap financing: $3,912/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 ($536,562) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,778, 5% of purchase price) and a second mortgage for the rest ($508,784 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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