Loan Comparison: 2.98% vs 6.5%
15612 96th, Commerce City, CO 80022 · 2bd/3ba · $329,000
List Price
$329,000
Assumable Rate
2.98%
Remaining Balance
$228,974
Equity Gap
$100,026
Loan Type
FHAAdjust Your Scenario
$16,450
$16,450$100,026
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 4.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,976/moAssumable @ 2.98% + gap loan
$1,606/moAssumed loan: $963/mo
Gap financing: $643/mo
$370less per month with the assumable
Your Savings on This Property
15612 96th, Commerce City · 2.98% FHA vs 6.5% conventional
$370
per month
$4,440
per year
$133,202
over 30 years
$133,202
interest saved
How gap financing works: The equity gap ($100,026) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,450, 5% of purchase price) and a second mortgage for the rest ($83,576 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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