Loan Comparison: 2.77% vs 6.5%
16304 117, Commerce City, CO 80022 · 8bd/4ba · $650,000
List Price
$650,000
Assumable Rate
2.77%
Remaining Balance
$476,352
Equity Gap
$173,648
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$173,648
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.77% + gap loan
$3,035/moAssumed loan: $1,950/mo
Gap financing: $1,085/mo
$868less per month with the assumable
Your Savings on This Property
16304 117, Commerce City · 2.77% FHA vs 6.5% conventional
$868
per month
$10,416
per year
$312,480
over 30 years
$312,480
interest saved
How gap financing works: The equity gap ($173,648) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($141,148 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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