Loan Comparison: 6.35% vs 6.5%
9974 Quintero Street, Commerce City, CO 80022 · 2bd/2ba · $649,900
List Price
$649,900
Assumable Rate
6.35%
Remaining Balance
$21,389
Equity Gap
$628,510
Loan Type
FHAAdjust Your Scenario
$32,495
$32,495$628,510
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (FHA)
Blended Rate: 7.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,902/moAssumable @ 6.35% + gap loan
$4,301/moAssumed loan: $133/mo
Gap financing: $4,167/mo
Your Savings on This Property
9974 Quintero Street, Commerce City · 6.35% 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 ($628,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,495, 5% of purchase price) and a second mortgage for the rest ($596,015 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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