Loan Comparison: 3.94% vs 6.5%
9351 Nagel, Thornton, CO 80229 · 3bd/2ba · $424,900
List Price
$424,900
Assumable Rate
3.94%
Remaining Balance
$192,883
Equity Gap
$247,828
Loan Type
FHAAdjust Your Scenario
$21,245
$21,245$247,828
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.94% (FHA)
Blended Rate: 6.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,551/moAssumable @ 3.94% + gap loan
$2,656/moAssumed loan: $914/mo
Gap financing: $1,742/mo
Your Savings on This Property
9351 Nagel, Thornton · 3.94% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($247,828) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,245, 5% of purchase price) and a second mortgage for the rest ($226,583 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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