Loan Comparison: 2.87% vs 6.5%
8970 Vine, Thornton, CO 80229 · 4bd/2ba · $475,000
List Price
$475,000
Assumable Rate
2.87%
Remaining Balance
$391,251
Equity Gap
$83,749
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$83,749
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.87% + gap loan
$2,084/moAssumed loan: $1,622/mo
Gap financing: $461/mo
$769less per month with the assumable
Your Savings on This Property
8970 Vine, Thornton · 2.87% FHA vs 6.5% conventional
$769
per month
$9,224
per year
$276,711
over 30 years
$276,711
interest saved
How gap financing works: The equity gap ($83,749) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($59,999 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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