Loan Comparison: 3.91% vs 6.5%
10029 Richfield Street, Commerce City, CO 80022 · 4bd/1ba · $500,000
List Price
$500,000
Assumable Rate
3.91%
Remaining Balance
$130,065
Equity Gap
$369,935
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$369,935
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (FHA)
Blended Rate: 6.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.91% + gap loan
$3,026/moAssumed loan: $614/mo
Gap financing: $2,412/mo
Your Savings on This Property
10029 Richfield Street, Commerce City · 3.91% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($369,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($344,935 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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