Loan Comparison: 5.52% vs 6.5%
18053 103rd, Commerce City, CO 80022 · 3bd/3ba · $397,000
List Price
$397,000
Assumable Rate
5.52%
Remaining Balance
$369,182
Equity Gap
$26,280
Loan Type
FHAAdjust Your Scenario
$19,850
$19,850$26,280
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,384/moAssumable @ 5.52% + gap loan
$2,150/moAssumed loan: $2,101/mo
Gap financing: $49/mo
$234less per month with the assumable
Your Savings on This Property
18053 103rd, Commerce City · 5.52% FHA vs 6.5% conventional
$234
per month
$2,803
per year
$84,094
over 30 years
$82,556
interest saved
How gap financing works: The equity gap ($26,280) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,850, 5% of purchase price) and a second mortgage for the rest ($6,430 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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