Loan Comparison: 4.17% vs 6.5%
16563 119th, Commerce City, CO 80022 · 3bd/3ba · $430,000
List Price
$430,000
Assumable Rate
4.17%
Remaining Balance
$396,777
Equity Gap
$33,223
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$33,223
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 4.17% + gap loan
$2,024/moAssumed loan: $1,933/mo
Gap financing: $90/mo
$558less per month with the assumable
Your Savings on This Property
16563 119th, Commerce City · 4.17% FHA vs 6.5% conventional
$558
per month
$6,702
per year
$201,057
over 30 years
$201,057
interest saved
How gap financing works: The equity gap ($33,223) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($11,723 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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