Loan Comparison: 2.77% vs 6.5%
10004 Yampa, Commerce City, CO 80022 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.77%
Remaining Balance
$354,412
Equity Gap
$160,587
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$160,587
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.77% + gap loan
$2,487/moAssumed loan: $1,451/mo
Gap financing: $1,037/mo
$605less per month with the assumable
Your Savings on This Property
10004 Yampa, Commerce City · 2.77% FHA vs 6.5% conventional
$605
per month
$7,260
per year
$217,800
over 30 years
$217,799
interest saved
How gap financing works: The equity gap ($160,587) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($134,837 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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