Loan Comparison: 5.22% vs 6.5%
7480 Krameria Street, Commerce City, CO 80022 · 2bd/1ba · $415,000
List Price
$415,000
Assumable Rate
5.22%
Remaining Balance
$344,318
Equity Gap
$70,681
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$70,681
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 5.22% + gap loan
$2,244/moAssumed loan: $1,895/mo
Gap financing: $349/mo
$248less per month with the assumable
Your Savings on This Property
7480 Krameria Street, Commerce City · 5.22% FHA vs 6.5% conventional
$248
per month
$2,974
per year
$89,229
over 30 years
$89,228
interest saved
How gap financing works: The equity gap ($70,681) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($49,931 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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