Loan Comparison: 3.16% vs 6.5%
18191 96th Avenue, Commerce City, CO 80022 · 5bd/4ba · $380,000
List Price
$380,000
Assumable Rate
3.16%
Remaining Balance
$276,826
Equity Gap
$103,173
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$103,173
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 3.16% + gap loan
$1,780/moAssumed loan: $1,191/mo
Gap financing: $589/mo
$502less per month with the assumable
Your Savings on This Property
18191 96th Avenue, Commerce City · 3.16% FHA vs 6.5% conventional
$502
per month
$6,025
per year
$180,750
over 30 years
$180,749
interest saved
How gap financing works: The equity gap ($103,173) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($84,173 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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