Loan Comparison: 4.83% vs 6.5%
11750 Harrison, Thornton, CO 80233 · 4bd/2ba · $489,900
List Price
$489,900
Assumable Rate
4.83%
Remaining Balance
$299,292
Equity Gap
$189,407
Loan Type
FHAAdjust Your Scenario
$24,495
$24,495$189,407
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.83% (FHA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 4.83% + gap loan
$2,844/moAssumed loan: $1,576/mo
Gap financing: $1,268/mo
$98less per month with the assumable
Your Savings on This Property
11750 Harrison, Thornton · 4.83% FHA vs 6.5% conventional
$98
per month
$1,175
per year
$35,256
over 30 years
$34,055
interest saved
How gap financing works: The equity gap ($189,407) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($164,912 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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