Loan Comparison: 4.59% vs 6.5%
11250 Florence, Commerce City, CO 80640 · 2bd/3ba · $325,500
List Price
$325,500
Assumable Rate
4.59%
Remaining Balance
$242,154
Equity Gap
$83,345
Loan Type
FHAAdjust Your Scenario
$16,275
$16,275$83,345
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.59% (FHA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,955/moAssumable @ 4.59% + gap loan
$1,756/moAssumed loan: $1,240/mo
Gap financing: $516/mo
$199less per month with the assumable
Your Savings on This Property
11250 Florence, Commerce City · 4.59% FHA vs 6.5% conventional
$199
per month
$2,386
per year
$71,590
over 30 years
$71,589
interest saved
How gap financing works: The equity gap ($83,345) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,275, 5% of purchase price) and a second mortgage for the rest ($67,070 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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