Loan Comparison: 2.9% vs 6.5%
12711 Colorado, Thornton, CO 80241 · 2bd/2ba · $340,000
List Price
$340,000
Assumable Rate
2.9%
Remaining Balance
$289,174
Equity Gap
$51,459
Loan Type
FHAAdjust Your Scenario
$17,000
$17,000$51,459
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.9% + gap loan
$1,469/moAssumed loan: $1,204/mo
Gap financing: $265/mo
$573less per month with the assumable
Your Savings on This Property
12711 Colorado, Thornton · 2.9% FHA vs 6.5% conventional
$573
per month
$6,876
per year
$206,277
over 30 years
$206,910
interest saved
How gap financing works: The equity gap ($51,459) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($34,459 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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