Loan Comparison: 3.57% vs 6.5%
11682 Kearney, Thornton, CO 80233 · 4bd/3ba · $555,000
List Price
$555,000
Assumable Rate
3.57%
Remaining Balance
$315,205
Equity Gap
$279,844
Loan Type
FHAAdjust Your Scenario
$27,750
$27,750$279,844
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (FHA)
Blended Rate: 5.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 3.57% + gap loan
$3,366/moAssumed loan: $1,428/mo
Gap financing: $1,938/mo
Your Savings on This Property
11682 Kearney, Thornton · 3.57% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$27,966
interest saved
How gap financing works: The equity gap ($279,844) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($252,094 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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