Loan Comparison: 4.17% vs 6.5%
16563 119th, Commerce City, CO 80022 · 3bd/3ba · $423,900
List Price
$423,900
Assumable Rate
4.17%
Remaining Balance
$395,383
Equity Gap
$27,123
Loan Type
FHAAdjust Your Scenario
$21,195
$21,195$27,123
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,545/moAssumable @ 4.17% + gap loan
$1,972/moAssumed loan: $1,927/mo
Gap financing: $46/mo
$573less per month with the assumable
Your Savings on This Property
16563 119th, Commerce City · 4.17% FHA vs 6.5% conventional
$573
per month
$6,879
per year
$206,357
over 30 years
$204,963
interest saved
How gap financing works: The equity gap ($27,123) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,195, 5% of purchase price) and a second mortgage for the rest ($5,928 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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