Loan Comparison: 4.38% vs 6.5%
12509 Glencoe, Thornton, CO 80241 · 4bd/3ba · $635,000
List Price
$635,000
Assumable Rate
4.38%
Remaining Balance
$504,718
Equity Gap
$240,861
Loan Type
FHAAdjust Your Scenario
$31,750
$31,750$240,861
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.38% (FHA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 4.38% + gap loan
$4,129/moAssumed loan: $2,521/mo
Gap financing: $1,608/mo
Your Savings on This Property
12509 Glencoe, Thornton · 4.38% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($240,861) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($209,111 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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