Loan Comparison: 4.17% vs 6.5%
8562 133rd, Thornton, CO 80602 · 5bd/3ba · $695,000
List Price
$695,000
Assumable Rate
4.17%
Remaining Balance
$564,222
Equity Gap
$131,772
Loan Type
FHAAdjust Your Scenario
$34,750
$34,750$131,772
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,173/moAssumable @ 4.17% + gap loan
$3,495/moAssumed loan: $2,749/mo
Gap financing: $746/mo
$678less per month with the assumable
Your Savings on This Property
8562 133rd, Thornton · 4.17% FHA vs 6.5% conventional
$678
per month
$8,135
per year
$244,059
over 30 years
$245,053
interest saved
How gap financing works: The equity gap ($131,772) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,750, 5% of purchase price) and a second mortgage for the rest ($97,022 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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