Loan Comparison: 4.62% vs 6.5%
10622 Truckee Street, Commerce City, CO 80233 · 3bd/3ba · $599,900
List Price
$599,900
Assumable Rate
4.62%
Remaining Balance
$566,019
Equity Gap
$33,881
Loan Type
FHAAdjust Your Scenario
$29,995
$29,995$33,881
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.62% (FHA)
Blended Rate: 4.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 4.62% + gap loan
$2,936/moAssumed loan: $2,908/mo
Gap financing: $27/mo
$667less per month with the assumable
Your Savings on This Property
10622 Truckee Street, Commerce City · 4.62% FHA vs 6.5% conventional
$667
per month
$7,999
per year
$239,970
over 30 years
$239,970
interest saved
How gap financing works: The equity gap ($33,881) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($3,886 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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