Loan Comparison: 3.87% vs 6.5%
18062 104th, Commerce City, CO 80022 · 3bd/3ba · $350,000
List Price
$350,000
Assumable Rate
3.87%
Remaining Balance
$198,244
Equity Gap
$151,215
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$151,215
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.87% + gap loan
$1,960/moAssumed loan: $932/mo
Gap financing: $1,028/mo
$142less per month with the assumable
Your Savings on This Property
18062 104th, Commerce City · 3.87% FHA vs 6.5% conventional
$142
per month
$1,702
per year
$51,056
over 30 years
$50,515
interest saved
How gap financing works: The equity gap ($151,215) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($133,715 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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