Loan Comparison: 2.84% vs 6.5%
16342 100th Way, Commerce City, CO 80022 · 5bd/3ba · $660,000
List Price
$660,000
Assumable Rate
2.84%
Remaining Balance
$429,906
Equity Gap
$230,093
Loan Type
FHAAdjust Your Scenario
$33,000
$33,000$230,093
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,963/moAssumable @ 2.84% + gap loan
$3,154/moAssumed loan: $1,776/mo
Gap financing: $1,378/mo
$809less per month with the assumable
Your Savings on This Property
16342 100th Way, Commerce City · 2.84% FHA vs 6.5% conventional
$809
per month
$9,712
per year
$291,365
over 30 years
$291,364
interest saved
How gap financing works: The equity gap ($230,093) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,000, 5% of purchase price) and a second mortgage for the rest ($197,093 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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