Loan Comparison: 3.77% vs 6.5%
12921 108th, Commerce City, CO 80022 · 3bd/3ba · $490,000
List Price
$490,000
Assumable Rate
3.77%
Remaining Balance
$274,638
Equity Gap
$215,362
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$215,362
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.77% + gap loan
$2,743/moAssumed loan: $1,275/mo
Gap financing: $1,468/mo
$200less per month with the assumable
Your Savings on This Property
12921 108th, Commerce City · 3.77% FHA vs 6.5% conventional
$200
per month
$2,396
per year
$71,893
over 30 years
$71,893
interest saved
How gap financing works: The equity gap ($215,362) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($190,862 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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