Loan Comparison: 3.07% vs 6.5%
10176 Quivas, Thornton, CO 80260 · 4bd/3ba · $370,000
List Price
$370,000
Assumable Rate
3.07%
Remaining Balance
$340,806
Equity Gap
$27,735
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$27,735
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.07% + gap loan
$1,521/moAssumed loan: $1,450/mo
Gap financing: $71/mo
$701less per month with the assumable
Your Savings on This Property
10176 Quivas, Thornton · 3.07% FHA vs 6.5% conventional
$701
per month
$8,412
per year
$252,346
over 30 years
$250,887
interest saved
How gap financing works: The equity gap ($27,735) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($9,235 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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