Loan Comparison: 3.57% vs 6.5%
6625 Locust, Commerce City, CO 80022 · 3bd/1ba · $425,000
List Price
$425,000
Assumable Rate
3.57%
Remaining Balance
$191,157
Equity Gap
$233,843
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$233,843
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (FHA)
Blended Rate: 6.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.57% + gap loan
$2,501/moAssumed loan: $866/mo
Gap financing: $1,635/mo
$51less per month with the assumable
Your Savings on This Property
6625 Locust, Commerce City · 3.57% FHA vs 6.5% conventional
$51
per month
$617
per year
$18,522
over 30 years
$18,522
interest saved
How gap financing works: The equity gap ($233,843) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($212,593 at 8.5%). 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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