Loan Comparison: 3.47% vs 6.5%
10231 Yampa Court, Commerce City, CO 80022 · 4bd/4ba · $505,000
List Price
$505,000
Assumable Rate
3.47%
Remaining Balance
$343,352
Equity Gap
$161,647
Loan Type
FHAAdjust Your Scenario
$25,250
$25,250$161,647
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 3.47% + gap loan
$2,490/moAssumed loan: $1,536/mo
Gap financing: $954/mo
$543less per month with the assumable
Your Savings on This Property
10231 Yampa Court, Commerce City · 3.47% FHA vs 6.5% conventional
$543
per month
$6,511
per year
$195,328
over 30 years
$195,327
interest saved
How gap financing works: The equity gap ($161,647) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($136,397 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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