Loan Comparison: 3.34% vs 6.5%
10303 Pitkin, Commerce City, CO 80022 · 4bd/4ba · $575,000
List Price
$575,000
Assumable Rate
3.34%
Remaining Balance
$598,841
Equity Gap
$119,250
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$119,250
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (FHA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.34% + gap loan
$3,332/moAssumed loan: $2,636/mo
Gap financing: $696/mo
$121less per month with the assumable
Your Savings on This Property
10303 Pitkin, Commerce City · 3.34% FHA vs 6.5% conventional
$121
per month
$1,451
per year
$43,538
over 30 years
$186,629
interest saved
How gap financing works: The equity gap ($119,250) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($90,500 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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