Loan Comparison: 3.61% vs 6.5%
12175 Kalispell, Commerce City, CO 80603 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
3.61%
Remaining Balance
$419,752
Equity Gap
$195,963
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$195,963
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.61% + gap loan
$3,220/moAssumed loan: $1,911/mo
Gap financing: $1,309/mo
Your Savings on This Property
12175 Kalispell, Commerce City · 3.61% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$54,944
interest saved
How gap financing works: The equity gap ($195,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($170,213 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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