Loan Comparison: 7.62% vs 6.5%
10001 Tucson Street, Commerce City, CO 80022 · 6bd/5ba · $738,999
List Price
$738,999
Assumable Rate
7.62%
Remaining Balance
$574,559
Equity Gap
$164,440
Loan Type
FHAAdjust Your Scenario
$36,950
$36,950$164,440
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.62% (FHA)
Blended Rate: 7.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,437/moAssumable @ 7.62% + gap loan
$4,956/moAssumed loan: $4,065/mo
Gap financing: $891/mo
Your Savings on This Property
10001 Tucson Street, Commerce City · 7.62% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($164,440) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,950, 5% of purchase price) and a second mortgage for the rest ($127,490 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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