Loan Comparison: 4.2% vs 6.5%
12711 Colorado, Thornton, CO 80241 · 2bd/2ba · $300,000
List Price
$300,000
Assumable Rate
4.2%
Remaining Balance
$181,591
Equity Gap
$117,966
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$117,966
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4.2% + gap loan
$1,680/moAssumed loan: $888/mo
Gap financing: $792/mo
$122less per month with the assumable
Your Savings on This Property
12711 Colorado, Thornton · 4.2% FHA vs 6.5% conventional
$122
per month
$1,460
per year
$43,799
over 30 years
$43,356
interest saved
How gap financing works: The equity gap ($117,966) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($102,966 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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