Loan Comparison: 3.67% vs 6.5%
15395 117th, Commerce City, CO 80022 · 5bd/3ba · $585,000
List Price
$585,000
Assumable Rate
3.67%
Remaining Balance
$261,701
Equity Gap
$321,715
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$321,715
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (FHA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.67% + gap loan
$3,449/moAssumed loan: $1,200/mo
Gap financing: $2,249/mo
$64less per month with the assumable
Your Savings on This Property
15395 117th, Commerce City · 3.67% FHA vs 6.5% conventional
$64
per month
$765
per year
$22,963
over 30 years
$21,379
interest saved
How gap financing works: The equity gap ($321,715) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($292,465 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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