Loan Comparison: 5.23% vs 6.5%
2621 98th, Thornton, CO 80229 · 3bd/2ba · $485,000
List Price
$485,000
Assumable Rate
5.23%
Remaining Balance
$329,129
Equity Gap
$155,870
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$155,870
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 5.23% + gap loan
$2,825/moAssumed loan: $1,813/mo
Gap financing: $1,012/mo
$87less per month with the assumable
Your Savings on This Property
2621 98th, Thornton · 5.23% FHA vs 6.5% conventional
$87
per month
$1,042
per year
$31,256
over 30 years
$31,255
interest saved
How gap financing works: The equity gap ($155,870) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($131,620 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.