Loan Comparison: 4.44% vs 6.5%
4205 119th, Thornton, CO 80233 · 2bd/2ba · $275,400
List Price
$275,400
Assumable Rate
4.44%
Remaining Balance
$171,227
Equity Gap
$103,418
Loan Type
FHAAdjust Your Scenario
$13,770
$13,770$103,418
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.44% (FHA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,654/moAssumable @ 4.44% + gap loan
$1,551/moAssumed loan: $861/mo
Gap financing: $689/mo
$103less per month with the assumable
Your Savings on This Property
4205 119th, Thornton · 4.44% FHA vs 6.5% conventional
$103
per month
$1,235
per year
$37,035
over 30 years
$36,280
interest saved
How gap financing works: The equity gap ($103,418) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,770, 5% of purchase price) and a second mortgage for the rest ($89,648 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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