Loan Comparison: 4.62% vs 6.5%
15171 118th Avenue, Commerce City, CO 80603 · 3bd/3ba · $465,000
List Price
$465,000
Assumable Rate
4.62%
Remaining Balance
$296,766
Equity Gap
$168,234
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$168,234
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.62% (FHA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.62% + gap loan
$2,539/moAssumed loan: $1,525/mo
Gap financing: $1,014/mo
$254less per month with the assumable
Your Savings on This Property
15171 118th Avenue, Commerce City · 4.62% FHA vs 6.5% conventional
$254
per month
$3,042
per year
$91,263
over 30 years
$91,263
interest saved
How gap financing works: The equity gap ($168,234) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($144,984 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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