Loan Comparison: 3.31% vs 6.5%
14822 119th Avenue, Commerce City, CO 80603 · 4bd/3ba · $435,000
List Price
$435,000
Assumable Rate
3.31%
Remaining Balance
$302,091
Equity Gap
$132,909
Loan Type
FHAAdjust Your Scenario
$21,750
$21,750$132,909
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.31% + gap loan
$2,102/moAssumed loan: $1,325/mo
Gap financing: $777/mo
$510less per month with the assumable
Your Savings on This Property
14822 119th Avenue, Commerce City · 3.31% FHA vs 6.5% conventional
$510
per month
$6,121
per year
$183,634
over 30 years
$183,634
interest saved
How gap financing works: The equity gap ($132,909) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($111,159 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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