Loan Comparison: 6.32% vs 6.5%
16485 110th Avenue, Commerce City, CO 80640 · 3bd/3ba · $650,000
List Price
$650,000
Assumable Rate
6.32%
Remaining Balance
$558,281
Equity Gap
$91,719
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$91,719
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.32% (FHA)
Blended Rate: 6.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 6.32% + gap loan
$3,877/moAssumed loan: $3,463/mo
Gap financing: $414/mo
$26less per month with the assumable
Your Savings on This Property
16485 110th Avenue, Commerce City · 6.32% FHA vs 6.5% conventional
$26
per month
$313
per year
$9,383
over 30 years
$9,383
interest saved
How gap financing works: The equity gap ($91,719) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($59,219 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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