Loan Comparison: 5.25% vs 6.5%
9170 Quintero Street, Commerce City, CO 80022 · 2bd/1ba · $540,000
List Price
$540,000
Assumable Rate
5.25%
Remaining Balance
$504,212
Equity Gap
$35,787
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$35,787
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (FHA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 5.25% + gap loan
$2,846/moAssumed loan: $2,784/mo
Gap financing: $61/mo
$397less per month with the assumable
Your Savings on This Property
9170 Quintero Street, Commerce City · 5.25% FHA vs 6.5% conventional
$397
per month
$4,761
per year
$142,845
over 30 years
$142,844
interest saved
How gap financing works: The equity gap ($35,787) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($8,787 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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