Loan Comparison: 3.06% vs 6.5%
13000 Harrison, Thornton, CO 80241 · 4bd/3ba · $435,000
List Price
$435,000
Assumable Rate
3.06%
Remaining Balance
$359,555
Equity Gap
$89,274
Loan Type
FHAAdjust Your Scenario
$21,750
$21,750$89,274
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.06% + gap loan
$2,047/moAssumed loan: $1,528/mo
Gap financing: $519/mo
$565less per month with the assumable
Your Savings on This Property
13000 Harrison, Thornton · 3.06% FHA vs 6.5% conventional
$565
per month
$6,783
per year
$203,494
over 30 years
$217,323
interest saved
How gap financing works: The equity gap ($89,274) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($67,524 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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