Loan Comparison: 4.17% vs 6.5%
6461 Hudson, Commerce City, CO 80022 · 4bd/1ba · $407,500
List Price
$407,500
Assumable Rate
4.17%
Remaining Balance
$374,559
Equity Gap
$31,627
Loan Type
FHAAdjust Your Scenario
$20,375
$20,375$31,627
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,447/moAssumable @ 4.17% + gap loan
$1,912/moAssumed loan: $1,825/mo
Gap financing: $87/mo
$535less per month with the assumable
Your Savings on This Property
6461 Hudson, Commerce City · 4.17% FHA vs 6.5% conventional
$535
per month
$6,423
per year
$192,697
over 30 years
$191,383
interest saved
How gap financing works: The equity gap ($31,627) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,375, 5% of purchase price) and a second mortgage for the rest ($11,252 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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