Loan Comparison: 3.62% vs 6.5%
11656 Oakland, Commerce City, CO 80640 · 3bd/2ba · $420,000
List Price
$420,000
Assumable Rate
3.62%
Remaining Balance
$360,804
Equity Gap
$144,767
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$144,767
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.62% + gap loan
$2,596/moAssumed loan: $1,644/mo
Gap financing: $952/mo
Your Savings on This Property
11656 Oakland, Commerce City · 3.62% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$58,878
interest saved
How gap financing works: The equity gap ($144,767) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($123,767 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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