Loan Comparison: 3.76% vs 6.5%
17920 104th, Commerce City, CO 80022 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
3.76%
Remaining Balance
$339,848
Equity Gap
$33,882
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$33,882
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.76% + gap loan
$1,692/moAssumed loan: $1,576/mo
Gap financing: $116/mo
$560less per month with the assumable
Your Savings on This Property
17920 104th, Commerce City · 3.76% FHA vs 6.5% conventional
$560
per month
$6,715
per year
$201,446
over 30 years
$200,176
interest saved
How gap financing works: The equity gap ($33,882) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($15,132 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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