Loan Comparison: 2.89% vs 6.5%
9314 Pitkin, Commerce City, CO 80022 · 3bd/2ba · $499,000
List Price
$499,000
Assumable Rate
2.89%
Remaining Balance
$342,686
Equity Gap
$158,638
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$158,638
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 2.89% + gap loan
$2,452/moAssumed loan: $1,425/mo
Gap financing: $1,028/mo
$544less per month with the assumable
Your Savings on This Property
9314 Pitkin, Commerce City · 2.89% FHA vs 6.5% conventional
$544
per month
$6,526
per year
$195,785
over 30 years
$198,109
interest saved
How gap financing works: The equity gap ($158,638) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($133,688 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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