Loan Comparison: 6.22% vs 6.5%
15324 99th Avenue, Commerce City, CO 80022 · 2bd/3ba · $545,000
List Price
$545,000
Assumable Rate
6.22%
Remaining Balance
$423,166
Equity Gap
$121,834
Loan Type
FHAAdjust Your Scenario
$27,250
$27,250$121,834
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.22% (FHA)
Blended Rate: 6.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 6.22% + gap loan
$3,259/moAssumed loan: $2,597/mo
Gap financing: $661/mo
$14less per month with the assumable
Your Savings on This Property
15324 99th Avenue, Commerce City · 6.22% FHA vs 6.5% conventional
$14
per month
$167
per year
$5,016
over 30 years
$5,016
interest saved
How gap financing works: The equity gap ($121,834) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($94,584 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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