Loan Comparison: 4.57% vs 6.5%
10250 Olathe Street, Commerce City, CO 80022 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
4.57%
Remaining Balance
$296,813
Equity Gap
$278,187
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$278,187
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.57% (FHA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 4.57% + gap loan
$3,260/moAssumed loan: $1,516/mo
Gap financing: $1,744/mo
$192less per month with the assumable
Your Savings on This Property
10250 Olathe Street, Commerce City · 4.57% FHA vs 6.5% conventional
$192
per month
$2,308
per year
$69,226
over 30 years
$69,226
interest saved
How gap financing works: The equity gap ($278,187) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($249,437 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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