Loan Comparison: 2.89% vs 6.5%
9457 108th, Commerce City, CO 80640 · 3bd/4ba · $500,000
List Price
$500,000
Assumable Rate
2.89%
Remaining Balance
$420,978
Equity Gap
$159,813
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$159,813
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.89% + gap loan
$2,787/moAssumed loan: $1,750/mo
Gap financing: $1,037/mo
$216less per month with the assumable
Your Savings on This Property
9457 108th, Commerce City · 2.89% FHA vs 6.5% conventional
$216
per month
$2,589
per year
$77,668
over 30 years
$158,459
interest saved
How gap financing works: The equity gap ($159,813) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($134,813 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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