Loan Comparison: 5.52% vs 6.5%
12195 Bellaire, Thornton, CO 80241 · 4bd/4ba · $499,000
List Price
$499,000
Assumable Rate
5.52%
Remaining Balance
$401,231
Equity Gap
$108,772
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$108,772
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 5.52% + gap loan
$2,928/moAssumed loan: $2,283/mo
Gap financing: $645/mo
$69less per month with the assumable
Your Savings on This Property
12195 Bellaire, Thornton · 5.52% FHA vs 6.5% conventional
$69
per month
$823
per year
$24,702
over 30 years
$35,705
interest saved
How gap financing works: The equity gap ($108,772) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($83,822 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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