Loan Comparison: 4.17% vs 6.5%
10173 Pagosa, Commerce City, CO 80022 · 5bd/4ba · $599,000
List Price
$599,000
Assumable Rate
4.17%
Remaining Balance
$308,522
Equity Gap
$290,477
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$290,477
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 4.17% + gap loan
$3,507/moAssumed loan: $1,503/mo
Gap financing: $2,003/mo
$90less per month with the assumable
Your Savings on This Property
10173 Pagosa, Commerce City · 4.17% FHA vs 6.5% conventional
$90
per month
$1,083
per year
$32,482
over 30 years
$32,481
interest saved
How gap financing works: The equity gap ($290,477) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($260,527 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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