Loan Comparison: 6.26% vs 6.5%
5820 Rose Lane, Commerce City, CO 80022 · 5bd/3ba · $495,000
List Price
$495,000
Assumable Rate
6.26%
Remaining Balance
$432,697
Equity Gap
$62,303
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$62,303
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.26% (FHA)
Blended Rate: 6.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 6.26% + gap loan
$2,930/moAssumed loan: $2,667/mo
Gap financing: $263/mo
$43less per month with the assumable
Your Savings on This Property
5820 Rose Lane, Commerce City · 6.26% FHA vs 6.5% conventional
$43
per month
$513
per year
$15,379
over 30 years
$15,379
interest saved
How gap financing works: The equity gap ($62,303) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($37,553 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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