Loan Comparison: 5.22% vs 6.5%
14540 Hudson, Thornton, CO 80602 · 3bd/4ba · $750,000
List Price
$750,000
Assumable Rate
5.22%
Remaining Balance
$600,011
Equity Gap
$149,989
Loan Type
FHAAdjust Your Scenario
$37,500
$37,500$149,989
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 5.22% + gap loan
$4,167/moAssumed loan: $3,302/mo
Gap financing: $865/mo
$336less per month with the assumable
Your Savings on This Property
14540 Hudson, Thornton · 5.22% FHA vs 6.5% conventional
$336
per month
$4,037
per year
$121,104
over 30 years
$121,104
interest saved
How gap financing works: The equity gap ($149,989) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($112,489 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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