Loan Comparison: 4.62% vs 6.5%
10622 Truckee Street, Commerce City, CO 80022 · 2bd/1ba · $615,000
List Price
$615,000
Assumable Rate
4.62%
Remaining Balance
$566,869
Equity Gap
$48,131
Loan Type
FHAAdjust Your Scenario
$30,750
$30,750$48,131
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.62% (FHA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 4.62% + gap loan
$3,034/moAssumed loan: $2,913/mo
Gap financing: $122/mo
$659less per month with the assumable
Your Savings on This Property
10622 Truckee Street, Commerce City · 4.62% FHA vs 6.5% conventional
$659
per month
$7,902
per year
$237,069
over 30 years
$237,069
interest saved
How gap financing works: The equity gap ($48,131) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($17,381 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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