Loan Comparison: 2.94% vs 6.5%
4053 133rd, Thornton, CO 80241 · 4bd/3ba · $544,000
List Price
$544,000
Assumable Rate
2.94%
Remaining Balance
$362,961
Equity Gap
$180,196
Loan Type
FHAAdjust Your Scenario
$27,200
$27,200$180,196
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,267/moAssumable @ 2.94% + gap loan
$2,695/moAssumed loan: $1,519/mo
Gap financing: $1,176/mo
$572less per month with the assumable
Your Savings on This Property
4053 133rd, Thornton · 2.94% FHA vs 6.5% conventional
$572
per month
$6,859
per year
$205,770
over 30 years
$204,927
interest saved
How gap financing works: The equity gap ($180,196) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,200, 5% of purchase price) and a second mortgage for the rest ($152,996 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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