Loan Comparison: 3.23% vs 6.5%
10114 Waco, Commerce City, CO 80022 · 3bd/4ba · $510,000
List Price
$510,000
Assumable Rate
3.23%
Remaining Balance
$384,555
Equity Gap
$146,569
Loan Type
FHAAdjust Your Scenario
$25,500
$25,500$146,569
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.23% + gap loan
$2,600/moAssumed loan: $1,669/mo
Gap financing: $931/mo
$462less per month with the assumable
Your Savings on This Property
10114 Waco, Commerce City · 3.23% FHA vs 6.5% conventional
$462
per month
$5,545
per year
$166,343
over 30 years
$187,467
interest saved
How gap financing works: The equity gap ($146,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($121,069 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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