Loan Comparison: 3.62% vs 6.5%
11049 Eagle Creek, Commerce City, CO 80022 · 3bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.62%
Remaining Balance
$302,105
Equity Gap
$138,573
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$138,573
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.62% + gap loan
$2,273/moAssumed loan: $1,377/mo
Gap financing: $896/mo
$369less per month with the assumable
Your Savings on This Property
11049 Eagle Creek, Commerce City · 3.62% FHA vs 6.5% conventional
$369
per month
$4,426
per year
$132,766
over 30 years
$133,444
interest saved
How gap financing works: The equity gap ($138,573) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($116,573 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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