Loan Comparison: 3.34% vs 6.5%
10303 Pitkin, Commerce City, CO 80022 · 4bd/4ba · $565,000
List Price
$565,000
Assumable Rate
3.34%
Remaining Balance
$455,749
Equity Gap
$109,250
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$109,250
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (FHA)
Blended Rate: 4.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.34% + gap loan
$2,629/moAssumed loan: $2,006/mo
Gap financing: $623/mo
$764less per month with the assumable
Your Savings on This Property
10303 Pitkin, Commerce City · 3.34% FHA vs 6.5% conventional
$764
per month
$9,165
per year
$274,959
over 30 years
$274,958
interest saved
How gap financing works: The equity gap ($109,250) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($81,000 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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