Loan Comparison: 4.98% vs 6.5%
18023 103rd Avenue, Commerce City, CO 80022 · 3bd/1ba · $375,000
List Price
$375,000
Assumable Rate
4.98%
Remaining Balance
$347,583
Equity Gap
$27,416
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$27,416
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 4.98% + gap loan
$1,922/moAssumed loan: $1,862/mo
Gap financing: $61/mo
$329less per month with the assumable
Your Savings on This Property
18023 103rd Avenue, Commerce City · 4.98% FHA vs 6.5% conventional
$329
per month
$3,954
per year
$118,618
over 30 years
$118,617
interest saved
How gap financing works: The equity gap ($27,416) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($8,666 at 7.5%). 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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