Loan Comparison: 3.16% vs 6.5%
10121 Zeno, Commerce City, CO 80022 · 2bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.16%
Remaining Balance
$319,739
Equity Gap
$108,948
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$108,948
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.16% + gap loan
$2,054/moAssumed loan: $1,376/mo
Gap financing: $678/mo
$438less per month with the assumable
Your Savings on This Property
10121 Zeno, Commerce City · 3.16% FHA vs 6.5% conventional
$438
per month
$5,256
per year
$157,674
over 30 years
$171,361
interest saved
How gap financing works: The equity gap ($108,948) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($88,198 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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