Loan Comparison: 6.75% vs 6.5%
9140 Pitkin Street, Commerce City, CO 80022 · 6bd/3ba · $505,000
List Price
$505,000
Assumable Rate
6.75%
Remaining Balance
$21,567
Equity Gap
$483,433
Loan Type
FHAAdjust Your Scenario
$25,250
$25,250$483,433
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.75% (FHA)
Blended Rate: 7.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 6.75% + gap loan
$3,344/moAssumed loan: $140/mo
Gap financing: $3,204/mo
Your Savings on This Property
9140 Pitkin Street, Commerce City · 6.75% 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 ($483,433) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($458,183 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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