Loan Comparison: 3.96% vs 6.5%
9360 Nagel, Thornton, CO 80229 · 5bd/2ba · $420,000
List Price
$420,000
Assumable Rate
3.96%
Remaining Balance
$190,006
Equity Gap
$229,994
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$229,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (FHA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.96% + gap loan
$2,510/moAssumed loan: $903/mo
Gap financing: $1,607/mo
$12less per month with the assumable
Your Savings on This Property
9360 Nagel, Thornton · 3.96% FHA vs 6.5% conventional
$12
per month
$147
per year
$4,402
over 30 years
$4,402
interest saved
How gap financing works: The equity gap ($229,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($208,994 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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