Loan Comparison: 2.77% vs 6.5%
16304 117, Commerce City, CO 80022 · 8bd/4ba · $620,000
List Price
$620,000
Assumable Rate
2.77%
Remaining Balance
$475,249
Equity Gap
$142,548
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$142,548
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.77% + gap loan
$2,803/moAssumed loan: $1,945/mo
Gap financing: $858/mo
$920less per month with the assumable
Your Savings on This Property
16304 117, Commerce City · 2.77% FHA vs 6.5% conventional
$920
per month
$11,040
per year
$331,190
over 30 years
$328,987
interest saved
How gap financing works: The equity gap ($142,548) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($111,548 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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