Loan Comparison: 3.31% vs 6.5%
9330 Lilly, Thornton, CO 80229 · 4bd/2ba · $395,000
List Price
$395,000
Assumable Rate
3.31%
Remaining Balance
$309,501
Equity Gap
$98,068
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$98,068
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.31% + gap loan
$1,959/moAssumed loan: $1,357/mo
Gap financing: $602/mo
$412less per month with the assumable
Your Savings on This Property
9330 Lilly, Thornton · 3.31% FHA vs 6.5% conventional
$412
per month
$4,949
per year
$148,484
over 30 years
$161,053
interest saved
How gap financing works: The equity gap ($98,068) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($78,318 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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