Loan Comparison: 3.34% vs 6.5%
10303 Pitkin Court, Commerce City, CO 80022 · 3bd/3ba · $565,000
List Price
$565,000
Assumable Rate
3.34%
Remaining Balance
$452,700
Equity Gap
$112,299
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$112,299
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (FHA)
Blended Rate: 3.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.34% + gap loan
$2,580/moAssumed loan: $1,993/mo
Gap financing: $588/mo
$812less per month with the assumable
Your Savings on This Property
10303 Pitkin Court, Commerce City · 3.34% FHA vs 6.5% conventional
$812
per month
$9,748
per year
$292,440
over 30 years
$292,439
interest saved
How gap financing works: The equity gap ($112,299) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($84,049 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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