Loan Comparison: 3.07% vs 6.5%
17781 103rd, Commerce City, CO 80022 · 2bd/3ba · $349,900
List Price
$349,900
Assumable Rate
3.07%
Remaining Balance
$299,521
Equity Gap
$49,108
Loan Type
FHAAdjust Your Scenario
$17,495
$17,495$49,108
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,101/moAssumable @ 3.07% + gap loan
$1,517/moAssumed loan: $1,274/mo
Gap financing: $243/mo
$584less per month with the assumable
Your Savings on This Property
17781 103rd, Commerce City · 3.07% FHA vs 6.5% conventional
$584
per month
$7,006
per year
$210,175
over 30 years
$208,904
interest saved
How gap financing works: The equity gap ($49,108) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,495, 5% of purchase price) and a second mortgage for the rest ($31,613 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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