Loan Comparison: 5.51% vs 6.5%
10208 Xanadu Street, Commerce City, CO 80022 · 2bd/2ba · $449,900
List Price
$449,900
Assumable Rate
5.51%
Remaining Balance
$420,466
Equity Gap
$29,433
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$29,433
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.51% (FHA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 5.51% + gap loan
$2,439/moAssumed loan: $2,390/mo
Gap financing: $49/mo
$263less per month with the assumable
Your Savings on This Property
10208 Xanadu Street, Commerce City · 5.51% FHA vs 6.5% conventional
$263
per month
$3,156
per year
$94,673
over 30 years
$94,672
interest saved
How gap financing works: The equity gap ($29,433) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($6,938 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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