Loan Comparison: 4.2% vs 6.5%
9184 Gale, Thornton, CO 80260 · 2bd/3ba · $332,000
List Price
$332,000
Assumable Rate
4.2%
Remaining Balance
$189,661
Equity Gap
$141,875
Loan Type
FHAAdjust Your Scenario
$16,600
$16,600$141,875
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,994/moAssumable @ 4.2% + gap loan
$1,891/moAssumed loan: $927/mo
Gap financing: $963/mo
$103less per month with the assumable
Your Savings on This Property
9184 Gale, Thornton · 4.2% FHA vs 6.5% conventional
$103
per month
$1,234
per year
$37,012
over 30 years
$36,548
interest saved
How gap financing works: The equity gap ($141,875) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,600, 5% of purchase price) and a second mortgage for the rest ($125,275 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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