Loan Comparison: 3.1% vs 6.5%
13509 102nd, Commerce City, CO 80022 · 3bd/4ba · $460,000
List Price
$460,000
Assumable Rate
3.1%
Remaining Balance
$419,515
Equity Gap
$37,857
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$37,857
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.1% + gap loan
$1,906/moAssumed loan: $1,791/mo
Gap financing: $114/mo
$857less per month with the assumable
Your Savings on This Property
13509 102nd, Commerce City · 3.1% FHA vs 6.5% conventional
$857
per month
$10,278
per year
$308,341
over 30 years
$305,713
interest saved
How gap financing works: The equity gap ($37,857) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($14,857 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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