Loan Comparison: 4.44% vs 6.5%
4205 119th, Thornton, CO 80233 · 2bd/2ba · $279,900
List Price
$279,900
Assumable Rate
4.44%
Remaining Balance
$171,981
Equity Gap
$107,918
Loan Type
FHAAdjust Your Scenario
$13,995
$13,995$107,918
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.44% (FHA)
Blended Rate: 5.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 4.44% + gap loan
$1,587/moAssumed loan: $865/mo
Gap financing: $722/mo
$93less per month with the assumable
Your Savings on This Property
4205 119th, Thornton · 4.44% FHA vs 6.5% conventional
$93
per month
$1,119
per year
$33,563
over 30 years
$33,562
interest saved
How gap financing works: The equity gap ($107,918) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,995, 5% of purchase price) and a second mortgage for the rest ($93,923 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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