Loan Comparison: 5.92% vs 6.5%
1083 Milky, Thornton, CO 80260 · 4bd/3ba · $275,000
List Price
$275,000
Assumable Rate
5.92%
Remaining Balance
$51,333
Equity Gap
$223,424
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$223,424
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.92% (FHA)
Blended Rate: 7.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 5.92% + gap loan
$1,917/moAssumed loan: $305/mo
Gap financing: $1,612/mo
Your Savings on This Property
1083 Milky, Thornton · 5.92% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($223,424) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($209,674 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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