Loan Comparison: 4.17% vs 6.5%
6461 Hudson, Commerce City, CO 80022 · 4bd/1ba · $410,000
List Price
$410,000
Assumable Rate
4.17%
Remaining Balance
$375,872
Equity Gap
$34,127
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$34,127
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 4.17% + gap loan
$1,936/moAssumed loan: $1,832/mo
Gap financing: $105/mo
$526less per month with the assumable
Your Savings on This Property
6461 Hudson, Commerce City · 4.17% FHA vs 6.5% conventional
$526
per month
$6,307
per year
$189,224
over 30 years
$189,223
interest saved
How gap financing works: The equity gap ($34,127) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($13,627 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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