Loan Comparison: 3.62% vs 6.5%
9598 Dahlia Lane, Thornton, CO 80229 · 3bd/3ba · $539,000
List Price
$539,000
Assumable Rate
3.62%
Remaining Balance
$349,575
Equity Gap
$189,424
Loan Type
FHAAdjust Your Scenario
$26,950
$26,950$189,424
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 3.62% + gap loan
$2,843/moAssumed loan: $1,593/mo
Gap financing: $1,249/mo
$394less per month with the assumable
Your Savings on This Property
9598 Dahlia Lane, Thornton · 3.62% FHA vs 6.5% conventional
$394
per month
$4,728
per year
$141,826
over 30 years
$141,825
interest saved
How gap financing works: The equity gap ($189,424) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($162,474 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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