Loan Comparison: 2.9% vs 6.5%
12711 Colorado, Thornton, CO 80241 · 2bd/2ba · $324,900
List Price
$324,900
Assumable Rate
2.9%
Remaining Balance
$287,269
Equity Gap
$36,359
Loan Type
FHAAdjust Your Scenario
$16,245
$16,245$36,359
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,951/moAssumable @ 2.9% + gap loan
$1,350/moAssumed loan: $1,196/mo
Gap financing: $155/mo
$601less per month with the assumable
Your Savings on This Property
12711 Colorado, Thornton · 2.9% FHA vs 6.5% conventional
$601
per month
$7,207
per year
$216,198
over 30 years
$214,926
interest saved
How gap financing works: The equity gap ($36,359) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,245, 5% of purchase price) and a second mortgage for the rest ($20,114 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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