Loan Comparison: 4.37% vs 6.5%
6740 76th Place, Commerce City, CO 80022 · 2bd/2ba · $388,000
List Price
$388,000
Assumable Rate
4.37%
Remaining Balance
$211,666
Equity Gap
$176,334
Loan Type
FHAAdjust Your Scenario
$19,400
$19,400$176,334
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,330/moAssumable @ 4.37% + gap loan
$2,153/moAssumed loan: $1,056/mo
Gap financing: $1,097/mo
$176less per month with the assumable
Your Savings on This Property
6740 76th Place, Commerce City · 4.37% FHA vs 6.5% conventional
$176
per month
$2,116
per year
$63,470
over 30 years
$63,470
interest saved
How gap financing works: The equity gap ($176,334) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,400, 5% of purchase price) and a second mortgage for the rest ($156,934 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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