Loan Comparison: 3.45% vs 6.5%
13066 Harrison, Thornton, CO 80241 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.45%
Remaining Balance
$298,529
Equity Gap
$138,168
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$138,168
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.45% + gap loan
$2,231/moAssumed loan: $1,332/mo
Gap financing: $899/mo
$321less per month with the assumable
Your Savings on This Property
13066 Harrison, Thornton · 3.45% FHA vs 6.5% conventional
$321
per month
$3,849
per year
$115,476
over 30 years
$127,173
interest saved
How gap financing works: The equity gap ($138,168) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($116,918 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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