Loan Comparison: 2.74% vs 6.5%
9884 Telluride, Commerce City, CO 80022 · 5bd/3ba · $600,000
List Price
$600,000
Assumable Rate
2.74%
Remaining Balance
$344,985
Equity Gap
$251,824
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$251,824
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 2.74% + gap loan
$3,112/moAssumed loan: $1,407/mo
Gap financing: $1,706/mo
$491less per month with the assumable
Your Savings on This Property
9884 Telluride, Commerce City · 2.74% FHA vs 6.5% conventional
$491
per month
$5,887
per year
$176,619
over 30 years
$173,428
interest saved
How gap financing works: The equity gap ($251,824) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($221,824 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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