Loan Comparison: 3.31% vs 6.5%
14822 119th, Commerce City, CO 80603 · 3bd/2ba · $445,000
List Price
$445,000
Assumable Rate
3.31%
Remaining Balance
$319,190
Equity Gap
$140,147
Loan Type
FHAAdjust Your Scenario
$22,250
$22,250$140,147
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.31% + gap loan
$2,306/moAssumed loan: $1,400/mo
Gap financing: $907/mo
$366less per month with the assumable
Your Savings on This Property
14822 119th, Commerce City · 3.31% FHA vs 6.5% conventional
$366
per month
$4,390
per year
$131,715
over 30 years
$146,052
interest saved
How gap financing works: The equity gap ($140,147) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($117,897 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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