Loan Comparison: 2.88% vs 6.5%
9819 Truckee Street, Commerce City, CO 80022 · 3bd/1ba · $680,000
List Price
$680,000
Assumable Rate
2.88%
Remaining Balance
$544,010
Equity Gap
$135,989
Loan Type
FHAAdjust Your Scenario
$34,000
$34,000$135,989
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 2.88% + gap loan
$2,972/moAssumed loan: $2,259/mo
Gap financing: $713/mo
$1,112less per month with the assumable
Your Savings on This Property
9819 Truckee Street, Commerce City · 2.88% FHA vs 6.5% conventional
$1,112
per month
$13,338
per year
$400,150
over 30 years
$400,149
interest saved
How gap financing works: The equity gap ($135,989) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($101,989 at 7.5%). 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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