Loan Comparison: 3.07% vs 6.5%
17781 103rd, Commerce City, CO 80022 · 2bd/3ba · $380,000
List Price
$380,000
Assumable Rate
3.07%
Remaining Balance
$300,791
Equity Gap
$79,208
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$79,208
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 3.07% + gap loan
$1,742/moAssumed loan: $1,280/mo
Gap financing: $463/mo
$539less per month with the assumable
Your Savings on This Property
17781 103rd, Commerce City · 3.07% FHA vs 6.5% conventional
$539
per month
$6,471
per year
$194,143
over 30 years
$194,142
interest saved
How gap financing works: The equity gap ($79,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($60,208 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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