Loan Comparison: 4.17% vs 6.5%
5360 Monaco, Commerce City, CO 80022 · 4bd/1ba · $464,900
List Price
$464,900
Assumable Rate
4.17%
Remaining Balance
$394,658
Equity Gap
$68,170
Loan Type
FHAAdjust Your Scenario
$23,245
$23,245$68,170
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.17% + gap loan
$2,268/moAssumed loan: $1,923/mo
Gap financing: $345/mo
$523less per month with the assumable
Your Savings on This Property
5360 Monaco, Commerce City · 4.17% FHA vs 6.5% conventional
$523
per month
$6,277
per year
$188,310
over 30 years
$186,238
interest saved
How gap financing works: The equity gap ($68,170) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,245, 5% of purchase price) and a second mortgage for the rest ($44,925 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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