Loan Comparison: 4.07% vs 6.5%
10494 Ouray, Commerce City, CO 80022 · 3bd/3ba · $494,000
List Price
$494,000
Assumable Rate
4.07%
Remaining Balance
$339,286
Equity Gap
$154,714
Loan Type
FHAAdjust Your Scenario
$24,700
$24,700$154,714
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,966/moAssumable @ 4.07% + gap loan
$2,633/moAssumed loan: $1,634/mo
Gap financing: $1,000/mo
$333less per month with the assumable
Your Savings on This Property
10494 Ouray, Commerce City · 4.07% FHA vs 6.5% conventional
$333
per month
$3,997
per year
$119,907
over 30 years
$119,907
interest saved
How gap financing works: The equity gap ($154,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,700, 5% of purchase price) and a second mortgage for the rest ($130,014 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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