Loan Comparison: 3.23% vs 6.5%
11123 Eudora, Thornton, CO 80233 · 4bd/2ba · $495,000
List Price
$495,000
Assumable Rate
3.23%
Remaining Balance
$336,734
Equity Gap
$157,508
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$157,508
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.23% + gap loan
$2,483/moAssumed loan: $1,462/mo
Gap financing: $1,021/mo
$490less per month with the assumable
Your Savings on This Property
11123 Eudora, Thornton · 3.23% FHA vs 6.5% conventional
$490
per month
$5,877
per year
$176,296
over 30 years
$175,538
interest saved
How gap financing works: The equity gap ($157,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($132,758 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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