Loan Comparison: 3.88% vs 6.5%
14700 104th Avenue, Commerce City, CO 80022 · 1bd/1ba · $310,000
List Price
$310,000
Assumable Rate
3.88%
Remaining Balance
$112,963
Equity Gap
$197,037
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$197,037
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.88% (FHA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.88% + gap loan
$1,801/moAssumed loan: $532/mo
Gap financing: $1,269/mo
$61less per month with the assumable
Your Savings on This Property
14700 104th Avenue, Commerce City · 3.88% FHA vs 6.5% conventional
$61
per month
$727
per year
$21,812
over 30 years
$21,812
interest saved
How gap financing works: The equity gap ($197,037) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($181,537 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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