Loan Comparison: 3.87% vs 6.5%
18062 104th, Commerce City, CO 80022 · 3bd/3ba · $340,000
List Price
$340,000
Assumable Rate
3.87%
Remaining Balance
$197,702
Equity Gap
$141,215
Loan Type
FHAAdjust Your Scenario
$17,000
$17,000$141,215
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 3.87% + gap loan
$1,884/moAssumed loan: $929/mo
Gap financing: $955/mo
$157less per month with the assumable
Your Savings on This Property
18062 104th, Commerce City · 3.87% FHA vs 6.5% conventional
$157
per month
$1,888
per year
$56,654
over 30 years
$55,571
interest saved
How gap financing works: The equity gap ($141,215) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($124,215 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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