Loan Comparison: 3.45% vs 6.5%
6760 77th Avenue, Commerce City, CO 80022 · 4bd/3ba · $519,900
List Price
$519,900
Assumable Rate
3.45%
Remaining Balance
$206,081
Equity Gap
$313,819
Loan Type
FHAAdjust Your Scenario
$25,995
$25,995$313,819
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.45% + gap loan
$2,932/moAssumed loan: $920/mo
Gap financing: $2,013/mo
$190less per month with the assumable
Your Savings on This Property
6760 77th Avenue, Commerce City · 3.45% FHA vs 6.5% conventional
$190
per month
$2,276
per year
$68,276
over 30 years
$68,276
interest saved
How gap financing works: The equity gap ($313,819) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,995, 5% of purchase price) and a second mortgage for the rest ($287,824 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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