Loan Comparison: 5.22% vs 6.5%
9080 Gale, Thornton, CO 80260 · 3bd/3ba · $370,000
List Price
$370,000
Assumable Rate
5.22%
Remaining Balance
$352,142
Equity Gap
$30,911
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$30,911
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 5.22% + gap loan
$2,033/moAssumed loan: $1,938/mo
Gap financing: $95/mo
$188less per month with the assumable
Your Savings on This Property
9080 Gale, Thornton · 5.22% FHA vs 6.5% conventional
$188
per month
$2,259
per year
$67,783
over 30 years
$80,836
interest saved
How gap financing works: The equity gap ($30,911) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($12,411 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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