Loan Comparison: 4.17% vs 6.5%
10928 Memphis, Commerce City, CO 80022 · 5bd/4ba · $689,000
List Price
$689,000
Assumable Rate
4.17%
Remaining Balance
$556,935
Equity Gap
$132,065
Loan Type
FHAAdjust Your Scenario
$34,450
$34,450$132,065
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,137/moAssumable @ 4.17% + gap loan
$3,464/moAssumed loan: $2,714/mo
Gap financing: $751/mo
$673less per month with the assumable
Your Savings on This Property
10928 Memphis, Commerce City · 4.17% FHA vs 6.5% conventional
$673
per month
$8,074
per year
$242,230
over 30 years
$242,230
interest saved
How gap financing works: The equity gap ($132,065) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,450, 5% of purchase price) and a second mortgage for the rest ($97,615 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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