Loan Comparison: 2.88% vs 6.5%
9819 Truckee, Commerce City, CO 80022 · 5bd/5ba · $680,000
List Price
$680,000
Assumable Rate
2.88%
Remaining Balance
$547,628
Equity Gap
$132,371
Loan Type
FHAAdjust Your Scenario
$34,000
$34,000$132,371
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 2.88% + gap loan
$3,030/moAssumed loan: $2,274/mo
Gap financing: $756/mo
$1,053less per month with the assumable
Your Savings on This Property
9819 Truckee, Commerce City · 2.88% FHA vs 6.5% conventional
$1,053
per month
$12,639
per year
$379,167
over 30 years
$379,166
interest saved
How gap financing works: The equity gap ($132,371) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($98,371 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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