Loan Comparison: 3.69% vs 6.5%
10186 Zeno, Commerce City, CO 80022 · 3bd/3ba · $447,000
List Price
$447,000
Assumable Rate
3.69%
Remaining Balance
$293,560
Equity Gap
$153,440
Loan Type
FHAAdjust Your Scenario
$22,350
$22,350$153,440
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,684/moAssumable @ 3.69% + gap loan
$2,358/moAssumed loan: $1,350/mo
Gap financing: $1,008/mo
$327less per month with the assumable
Your Savings on This Property
10186 Zeno, Commerce City · 3.69% FHA vs 6.5% conventional
$327
per month
$3,919
per year
$117,562
over 30 years
$117,562
interest saved
How gap financing works: The equity gap ($153,440) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,350, 5% of purchase price) and a second mortgage for the rest ($131,090 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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