Loan Comparison: 3.07% vs 6.5%
10176 Quivas, Thornton, CO 80260 · 4bd/3ba · $389,000
List Price
$389,000
Assumable Rate
3.07%
Remaining Balance
$342,264
Equity Gap
$46,735
Loan Type
FHAAdjust Your Scenario
$19,450
$19,450$46,735
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 3.07% + gap loan
$1,666/moAssumed loan: $1,456/mo
Gap financing: $210/mo
$670less per month with the assumable
Your Savings on This Property
10176 Quivas, Thornton · 3.07% FHA vs 6.5% conventional
$670
per month
$8,041
per year
$241,221
over 30 years
$241,220
interest saved
How gap financing works: The equity gap ($46,735) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($27,285 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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