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
$227,971
Equity Gap
$101,028
Loan Type
FHAAdjust Your Scenario
$16,450
$16,450$101,028
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 4.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,976/moAssumable @ 2.98% + gap loan
$1,609/moAssumed loan: $959/mo
Gap financing: $650/mo
$367less per month with the assumable
Your Savings on This Property
15612 96th, Commerce City · 2.98% FHA vs 6.5% conventional
$367
per month
$4,398
per year
$131,947
over 30 years
$131,946
interest saved
How gap financing works: The equity gap ($101,028) 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 ($84,578 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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