Loan Comparison: 3.62% vs 6.5%
11656 Oakland Drive, Commerce City, CO 80640 · 5bd/3ba · $399,900
List Price
$399,900
Assumable Rate
3.62%
Remaining Balance
$273,983
Equity Gap
$125,917
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$125,917
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.62% + gap loan
$1,989/moAssumed loan: $1,249/mo
Gap financing: $741/mo
$412less per month with the assumable
Your Savings on This Property
11656 Oakland Drive, Commerce City · 3.62% FHA vs 6.5% conventional
$412
per month
$4,943
per year
$148,285
over 30 years
$148,285
interest saved
How gap financing works: The equity gap ($125,917) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($105,922 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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