Loan Comparison: 4.47% vs 6.5%
15612 96th, Commerce City, CO 80022 · 3bd/3ba · $390,000
List Price
$390,000
Assumable Rate
4.47%
Remaining Balance
$263,879
Equity Gap
$139,790
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$139,790
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.47% (FHA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 4.47% + gap loan
$2,257/moAssumed loan: $1,332/mo
Gap financing: $925/mo
$85less per month with the assumable
Your Savings on This Property
15612 96th, Commerce City · 4.47% FHA vs 6.5% conventional
$85
per month
$1,015
per year
$30,438
over 30 years
$44,107
interest saved
How gap financing works: The equity gap ($139,790) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($120,290 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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