Loan Comparison: 3.06% vs 6.5%
9758 Laredo St, Commerce City, CO 80022 · 2bd/1ba · $310,000
List Price
$310,000
Assumable Rate
3.06%
Remaining Balance
$269,438
Equity Gap
$40,561
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$40,561
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.06% + gap loan
$1,320/moAssumed loan: $1,145/mo
Gap financing: $175/mo
$542less per month with the assumable
Your Savings on This Property
9758 Laredo St, Commerce City · 3.06% FHA vs 6.5% conventional
$542
per month
$6,498
per year
$194,944
over 30 years
$194,943
interest saved
How gap financing works: The equity gap ($40,561) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($25,061 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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