Loan Comparison: 3.62% vs 6.5%
14700 104th, Commerce City, CO 80022 · 2bd/3ba · $310,000
List Price
$310,000
Assumable Rate
3.62%
Remaining Balance
$202,535
Equity Gap
$107,465
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$107,465
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.62% + gap loan
$1,630/moAssumed loan: $923/mo
Gap financing: $707/mo
$231less per month with the assumable
Your Savings on This Property
14700 104th, Commerce City · 3.62% FHA vs 6.5% conventional
$231
per month
$2,775
per year
$83,238
over 30 years
$83,238
interest saved
How gap financing works: The equity gap ($107,465) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($91,965 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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