Loan Comparison: 3.06% vs 6.5%
4777 98th, Thornton, CO 80229 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.06%
Remaining Balance
$328,183
Equity Gap
$71,100
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$71,100
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.06% + gap loan
$1,787/moAssumed loan: $1,394/mo
Gap financing: $393/mo
$615less per month with the assumable
Your Savings on This Property
4777 98th, Thornton · 3.06% FHA vs 6.5% conventional
$615
per month
$7,376
per year
$221,281
over 30 years
$220,564
interest saved
How gap financing works: The equity gap ($71,100) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($51,100 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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