Loan Comparison: 3.45% vs 6.5%
9994 Quintero, Commerce City, CO 80022 · 4bd/4ba · $610,000
List Price
$610,000
Assumable Rate
3.45%
Remaining Balance
$429,649
Equity Gap
$175,613
Loan Type
FHAAdjust Your Scenario
$30,500
$30,500$175,613
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 3.45% + gap loan
$3,033/moAssumed loan: $1,917/mo
Gap financing: $1,116/mo
$630less per month with the assumable
Your Savings on This Property
9994 Quintero, Commerce City · 3.45% FHA vs 6.5% conventional
$630
per month
$7,556
per year
$226,691
over 30 years
$221,953
interest saved
How gap financing works: The equity gap ($175,613) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($145,113 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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