Loan Comparison: 3.31% vs 6.5%
15125 117th Drive, Commerce City, CO 80601 · 3bd/3ba · $499,000
List Price
$499,000
Assumable Rate
3.31%
Remaining Balance
$333,576
Equity Gap
$165,424
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$165,424
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.31% + gap loan
$2,445/moAssumed loan: $1,463/mo
Gap financing: $982/mo
$551less per month with the assumable
Your Savings on This Property
15125 117th Drive, Commerce City · 3.31% FHA vs 6.5% conventional
$551
per month
$6,616
per year
$198,487
over 30 years
$198,487
interest saved
How gap financing works: The equity gap ($165,424) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($140,474 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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