Loan Comparison: 3.61% vs 6.5%
11470 Kenton, Commerce City, CO 80640 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.61%
Remaining Balance
$328,691
Equity Gap
$153,862
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$153,862
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.61% + gap loan
$2,506/moAssumed loan: $1,496/mo
Gap financing: $1,010/mo
$196less per month with the assumable
Your Savings on This Property
11470 Kenton, Commerce City · 3.61% FHA vs 6.5% conventional
$196
per month
$2,350
per year
$70,490
over 30 years
$103,043
interest saved
How gap financing works: The equity gap ($153,862) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($131,362 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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