Loan Comparison: 3.7% vs 6.5%
17955 107, Commerce City, CO 80022 · 3bd/3ba · $574,000
List Price
$574,000
Assumable Rate
3.7%
Remaining Balance
$326,511
Equity Gap
$247,488
Loan Type
FHAAdjust Your Scenario
$28,700
$28,700$247,488
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,447/moAssumable @ 3.7% + gap loan
$3,185/moAssumed loan: $1,503/mo
Gap financing: $1,682/mo
$262less per month with the assumable
Your Savings on This Property
17955 107, Commerce City · 3.7% FHA vs 6.5% conventional
$262
per month
$3,138
per year
$94,141
over 30 years
$94,140
interest saved
How gap financing works: The equity gap ($247,488) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,700, 5% of purchase price) and a second mortgage for the rest ($218,788 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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