Loan Comparison: 5.22% vs 6.5%
14540 Hudson, Thornton, CO 80602 · 4bd/4ba · $735,000
List Price
$735,000
Assumable Rate
5.22%
Remaining Balance
$599,144
Equity Gap
$134,989
Loan Type
FHAAdjust Your Scenario
$36,750
$36,750$134,989
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,413/moAssumable @ 5.22% + gap loan
$4,053/moAssumed loan: $3,297/mo
Gap financing: $755/mo
$361less per month with the assumable
Your Savings on This Property
14540 Hudson, Thornton · 5.22% FHA vs 6.5% conventional
$361
per month
$4,328
per year
$129,842
over 30 years
$128,975
interest saved
How gap financing works: The equity gap ($134,989) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,750, 5% of purchase price) and a second mortgage for the rest ($98,239 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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