Loan Comparison: 4.98% vs 6.5%
18023 103rd, Commerce City, CO 80022 · 3bd/3ba · $389,000
List Price
$389,000
Assumable Rate
4.98%
Remaining Balance
$350,297
Equity Gap
$39,241
Loan Type
FHAAdjust Your Scenario
$19,450
$19,450$39,241
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 4.98% + gap loan
$2,028/moAssumed loan: $1,876/mo
Gap financing: $152/mo
$307less per month with the assumable
Your Savings on This Property
18023 103rd, Commerce City · 4.98% FHA vs 6.5% conventional
$307
per month
$3,689
per year
$110,679
over 30 years
$111,217
interest saved
How gap financing works: The equity gap ($39,241) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($19,791 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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