Loan Comparison: 4.2% vs 6.5%
9184 Gale, Thornton, CO 80260 · 2bd/3ba · $341,000
List Price
$341,000
Assumable Rate
4.2%
Remaining Balance
$190,124
Equity Gap
$150,875
Loan Type
FHAAdjust Your Scenario
$17,050
$17,050$150,875
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,048/moAssumable @ 4.2% + gap loan
$1,959/moAssumed loan: $930/mo
Gap financing: $1,029/mo
$89less per month with the assumable
Your Savings on This Property
9184 Gale, Thornton · 4.2% FHA vs 6.5% conventional
$89
per month
$1,066
per year
$31,985
over 30 years
$31,984
interest saved
How gap financing works: The equity gap ($150,875) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,050, 5% of purchase price) and a second mortgage for the rest ($133,825 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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