Loan Comparison: 3.16% vs 6.5%
2354 116th, Thornton, CO 80233 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.16%
Remaining Balance
$399,921
Equity Gap
$222,019
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$222,019
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.16% + gap loan
$3,216/moAssumed loan: $1,721/mo
Gap financing: $1,496/mo
$86less per month with the assumable
Your Savings on This Property
2354 116th, Thornton · 3.16% FHA vs 6.5% conventional
$86
per month
$1,033
per year
$30,990
over 30 years
$102,930
interest saved
How gap financing works: The equity gap ($222,019) 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 ($194,519 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2354 116th.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.