Loan Comparison: 3.77% vs 6.5%
10939 Grange Creek, Thornton, CO 80233 · 4bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.77%
Remaining Balance
$327,796
Equity Gap
$135,507
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$135,507
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 4.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.77% + gap loan
$2,391/moAssumed loan: $1,522/mo
Gap financing: $869/mo
$311less per month with the assumable
Your Savings on This Property
10939 Grange Creek, Thornton · 3.77% FHA vs 6.5% conventional
$311
per month
$3,736
per year
$112,092
over 30 years
$125,395
interest saved
How gap financing works: The equity gap ($135,507) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($113,007 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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