Loan Comparison: 3.77% vs 6.5%
12921 108th, Commerce City, CO 80022 · 3bd/3ba · $499,000
List Price
$499,000
Assumable Rate
3.77%
Remaining Balance
$273,918
Equity Gap
$225,805
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$225,805
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.77% + gap loan
$2,816/moAssumed loan: $1,272/mo
Gap financing: $1,544/mo
$180less per month with the assumable
Your Savings on This Property
12921 108th, Commerce City · 3.77% FHA vs 6.5% conventional
$180
per month
$2,163
per year
$64,890
over 30 years
$65,613
interest saved
How gap financing works: The equity gap ($225,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($200,855 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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