Loan Comparison: 3.64% vs 6.5%
10207 Walden Court, Commerce City, CO 80022 · 4bd/2ba · $579,000
List Price
$579,000
Assumable Rate
3.64%
Remaining Balance
$430,234
Equity Gap
$148,765
Loan Type
FHAAdjust Your Scenario
$28,950
$28,950$148,765
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (FHA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 3.64% + gap loan
$2,803/moAssumed loan: $1,966/mo
Gap financing: $838/mo
$673less per month with the assumable
Your Savings on This Property
10207 Walden Court, Commerce City · 3.64% FHA vs 6.5% conventional
$673
per month
$8,078
per year
$242,354
over 30 years
$242,353
interest saved
How gap financing works: The equity gap ($148,765) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($119,815 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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