Loan Comparison: 4.05% vs 6.5%
12675 104th Place, Commerce City, CO 80640 · 6bd/4ba · $485,000
List Price
$485,000
Assumable Rate
4.05%
Remaining Balance
$282,277
Equity Gap
$202,723
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$202,723
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (FHA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 4.05% + gap loan
$2,604/moAssumed loan: $1,356/mo
Gap financing: $1,248/mo
$309less per month with the assumable
Your Savings on This Property
12675 104th Place, Commerce City · 4.05% FHA vs 6.5% conventional
$309
per month
$3,703
per year
$111,082
over 30 years
$111,082
interest saved
How gap financing works: The equity gap ($202,723) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($178,473 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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