Loan Comparison: 2.89% vs 6.5%
7826 125th, Thornton, CO 80602 · 4bd/3ba · $710,000
List Price
$710,000
Assumable Rate
2.89%
Remaining Balance
$367,614
Equity Gap
$351,632
Loan Type
FHAAdjust Your Scenario
$35,500
$35,500$351,632
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,263/moAssumable @ 2.89% + gap loan
$3,959/moAssumed loan: $1,528/mo
Gap financing: $2,431/mo
$304less per month with the assumable
Your Savings on This Property
7826 125th, Thornton · 2.89% FHA vs 6.5% conventional
$304
per month
$3,652
per year
$109,572
over 30 years
$118,818
interest saved
How gap financing works: The equity gap ($351,632) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,500, 5% of purchase price) and a second mortgage for the rest ($316,132 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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