Loan Comparison: 2.74% vs 6.5%
9758 Laredo, Commerce City, CO 80022 · 2bd/3ba · $320,000
List Price
$320,000
Assumable Rate
2.74%
Remaining Balance
$256,879
Equity Gap
$63,120
Loan Type
FHAAdjust Your Scenario
$16,000
$16,000$63,120
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 2.74% + gap loan
$1,410/moAssumed loan: $1,047/mo
Gap financing: $362/mo
$512less per month with the assumable
Your Savings on This Property
9758 Laredo, Commerce City · 2.74% FHA vs 6.5% conventional
$512
per month
$6,142
per year
$184,266
over 30 years
$184,265
interest saved
How gap financing works: The equity gap ($63,120) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($47,120 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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