Loan Comparison: 5.41% vs 6.5%
4395 122nd, Thornton, CO 80241 · 3bd/2ba · $497,500
List Price
$497,500
Assumable Rate
5.41%
Remaining Balance
$424,882
Equity Gap
$72,618
Loan Type
FHAAdjust Your Scenario
$24,875
$24,875$72,618
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,987/moAssumable @ 5.41% + gap loan
$2,756/moAssumed loan: $2,388/mo
Gap financing: $367/mo
$232less per month with the assumable
Your Savings on This Property
4395 122nd, Thornton · 5.41% FHA vs 6.5% conventional
$232
per month
$2,781
per year
$83,417
over 30 years
$83,417
interest saved
How gap financing works: The equity gap ($72,618) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,875, 5% of purchase price) and a second mortgage for the rest ($47,743 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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