Loan Comparison: 4.82% vs 6.5%
14246 Glencoe, Thornton, CO 80602 · 6bd/5ba · $913,800
List Price
$913,800
Assumable Rate
4.82%
Remaining Balance
$659,791
Equity Gap
$254,008
Loan Type
FHAAdjust Your Scenario
$45,690
$45,690$254,008
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.82% (FHA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,487/moAssumable @ 4.82% + gap loan
$5,071/moAssumed loan: $3,470/mo
Gap financing: $1,602/mo
$416less per month with the assumable
Your Savings on This Property
14246 Glencoe, Thornton · 4.82% FHA vs 6.5% conventional
$416
per month
$4,987
per year
$149,611
over 30 years
$149,610
interest saved
How gap financing works: The equity gap ($254,008) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,690, 5% of purchase price) and a second mortgage for the rest ($208,318 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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