Loan Comparison: 2.83% vs 6.5%
10182 Zeno, Commerce City, CO 80022 · 2bd/3ba · $419,900
List Price
$419,900
Assumable Rate
2.83%
Remaining Balance
$305,166
Equity Gap
$116,150
Loan Type
FHAAdjust Your Scenario
$20,995
$20,995$116,150
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 2.83% + gap loan
$1,990/moAssumed loan: $1,259/mo
Gap financing: $732/mo
$531less per month with the assumable
Your Savings on This Property
10182 Zeno, Commerce City · 2.83% FHA vs 6.5% conventional
$531
per month
$6,371
per year
$191,127
over 30 years
$192,543
interest saved
How gap financing works: The equity gap ($116,150) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($95,155 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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