Loan Comparison: 2.87% vs 6.5%
4520 128th, Thornton, CO 80241 · 3bd/3ba · $530,000
List Price
$530,000
Assumable Rate
2.87%
Remaining Balance
$433,342
Equity Gap
$116,093
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$116,093
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.87% + gap loan
$2,486/moAssumed loan: $1,797/mo
Gap financing: $689/mo
$697less per month with the assumable
Your Savings on This Property
4520 128th, Thornton · 2.87% FHA vs 6.5% conventional
$697
per month
$8,362
per year
$250,857
over 30 years
$270,292
interest saved
How gap financing works: The equity gap ($116,093) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($89,593 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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