Loan Comparison: 2.375% vs 6.5%
10120 Jasper, Commerce City, CO 80022 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.375%
Remaining Balance
$399,231
Equity Gap
$121,642
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$121,642
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.375% (FHA)
Blended Rate: 3.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.375% + gap loan
$2,285/moAssumed loan: $1,552/mo
Gap financing: $733/mo
$867less per month with the assumable
Your Savings on This Property
10120 Jasper, Commerce City · 2.375% FHA vs 6.5% conventional
$867
per month
$10,408
per year
$312,241
over 30 years
$308,114
interest saved
How gap financing works: The equity gap ($121,642) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($95,392 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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