Loan Comparison: 2.74% vs 6.5%
10114 Wyandott, Thornton, CO 80260 · 4bd/4ba · $550,000
List Price
$550,000
Assumable Rate
2.74%
Remaining Balance
$334,777
Equity Gap
$215,998
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$215,998
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.74% + gap loan
$2,814/moAssumed loan: $1,365/mo
Gap financing: $1,449/mo
$488less per month with the assumable
Your Savings on This Property
10114 Wyandott, Thornton · 2.74% FHA vs 6.5% conventional
$488
per month
$5,859
per year
$175,768
over 30 years
$176,543
interest saved
How gap financing works: The equity gap ($215,998) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($188,498 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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