Loan Comparison: 2.9% vs 6.5%
17820 96th, Commerce City, CO 80022 · 3bd/3ba · $395,000
List Price
$395,000
Assumable Rate
2.9%
Remaining Balance
$358,564
Equity Gap
$35,649
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$35,649
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 2.9% + gap loan
$1,615/moAssumed loan: $1,492/mo
Gap financing: $122/mo
$757less per month with the assumable
Your Savings on This Property
17820 96th, Commerce City · 2.9% FHA vs 6.5% conventional
$757
per month
$9,086
per year
$272,569
over 30 years
$271,782
interest saved
How gap financing works: The equity gap ($35,649) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($15,899 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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