Loan Comparison: 3.47% vs 6.5%
11081 Richfield, Commerce City, CO 80022 · 4bd/4ba · $534,900
List Price
$534,900
Assumable Rate
3.47%
Remaining Balance
$353,145
Equity Gap
$195,337
Loan Type
FHAAdjust Your Scenario
$26,745
$26,745$195,337
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 5.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.47% + gap loan
$2,876/moAssumed loan: $1,580/mo
Gap financing: $1,296/mo
$336less per month with the assumable
Your Savings on This Property
11081 Richfield, Commerce City · 3.47% FHA vs 6.5% conventional
$336
per month
$4,028
per year
$120,848
over 30 years
$134,430
interest saved
How gap financing works: The equity gap ($195,337) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,745, 5% of purchase price) and a second mortgage for the rest ($168,592 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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