Loan Comparison: 2.84% vs 6.5%
14674 Williams, Thornton, CO 80602 · 5bd/3ba · $640,000
List Price
$640,000
Assumable Rate
2.84%
Remaining Balance
$492,087
Equity Gap
$165,782
Loan Type
FHAAdjust Your Scenario
$32,000
$32,000$165,782
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 2.84% + gap loan
$3,061/moAssumed loan: $2,032/mo
Gap financing: $1,029/mo
$782less per month with the assumable
Your Savings on This Property
14674 Williams, Thornton · 2.84% FHA vs 6.5% conventional
$782
per month
$9,382
per year
$281,473
over 30 years
$299,342
interest saved
How gap financing works: The equity gap ($165,782) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($133,782 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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