Loan Comparison: 4% vs 6.5%
3261 103rd, Thornton, CO 80229 · 2bd/2ba · $300,000
List Price
$300,000
Assumable Rate
4%
Remaining Balance
$445,959
Equity Gap
$300,000
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$300,000
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4% + gap loan
$4,320/moAssumed loan: $2,129/mo
Gap financing: $2,191/mo
Your Savings on This Property
3261 103rd, Thornton · 4% 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 ($300,000) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($285,000 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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