Loan Comparison: 2.94% vs 6.5%
4053 133rd, Thornton, CO 80241 · 4bd/3ba · $549,000
List Price
$549,000
Assumable Rate
2.94%
Remaining Balance
$378,356
Equity Gap
$185,196
Loan Type
FHAAdjust Your Scenario
$27,450
$27,450$185,196
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 2.94% + gap loan
$2,796/moAssumed loan: $1,583/mo
Gap financing: $1,213/mo
$501less per month with the assumable
Your Savings on This Property
4053 133rd, Thornton · 2.94% FHA vs 6.5% conventional
$501
per month
$6,008
per year
$180,243
over 30 years
$194,795
interest saved
How gap financing works: The equity gap ($185,196) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($157,746 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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