Loan Comparison: 4.57% vs 6.5%
10656 Racine, Commerce City, CO 80022 · 5bd/5ba · $565,000
List Price
$565,000
Assumable Rate
4.57%
Remaining Balance
$352,465
Equity Gap
$246,208
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$246,208
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.57% (FHA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 4.57% + gap loan
$3,476/moAssumed loan: $1,801/mo
Gap financing: $1,676/mo
Your Savings on This Property
10656 Racine, Commerce City · 4.57% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$3,483
interest saved
How gap financing works: The equity gap ($246,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($217,958 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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