Loan Comparison: 3.06% vs 6.5%
9758 Laredo, Commerce City, CO 80022 · 2bd/3ba · $329,999
List Price
$329,999
Assumable Rate
3.06%
Remaining Balance
$272,425
Equity Gap
$57,574
Loan Type
FHAAdjust Your Scenario
$16,500
$16,500$57,574
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 3.06% + gap loan
$1,473/moAssumed loan: $1,157/mo
Gap financing: $316/mo
$508less per month with the assumable
Your Savings on This Property
9758 Laredo, Commerce City · 3.06% FHA vs 6.5% conventional
$508
per month
$6,100
per year
$182,993
over 30 years
$182,993
interest saved
How gap financing works: The equity gap ($57,574) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,500, 5% of purchase price) and a second mortgage for the rest ($41,074 at 8.5%). 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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