Loan Comparison: 2.89% vs 6.5%
9449 Inca, Thornton, CO 80260 · 3bd/2ba · $455,000
List Price
$455,000
Assumable Rate
2.89%
Remaining Balance
$369,230
Equity Gap
$152,868
Loan Type
FHAAdjust Your Scenario
$22,750
$22,750$152,868
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.89% + gap loan
$2,535/moAssumed loan: $1,535/mo
Gap financing: $1,000/mo
$197less per month with the assumable
Your Savings on This Property
9449 Inca, Thornton · 2.89% FHA vs 6.5% conventional
$197
per month
$2,361
per year
$70,830
over 30 years
$137,928
interest saved
How gap financing works: The equity gap ($152,868) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($130,118 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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