Loan Comparison: 2.83% vs 6.5%
18119 96th, Commerce City, CO 80022 · 3bd/3ba · $405,000
List Price
$405,000
Assumable Rate
2.83%
Remaining Balance
$314,033
Equity Gap
$103,743
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$103,743
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 2.83% + gap loan
$1,937/moAssumed loan: $1,295/mo
Gap financing: $642/mo
$495less per month with the assumable
Your Savings on This Property
18119 96th, Commerce City · 2.83% FHA vs 6.5% conventional
$495
per month
$5,934
per year
$178,033
over 30 years
$190,809
interest saved
How gap financing works: The equity gap ($103,743) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($83,493 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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