Loan Comparison: 4.99% vs 6.5%
9074 Truckee, Commerce City, CO 80022 · 4bd/3ba · $580,000
List Price
$580,000
Assumable Rate
4.99%
Remaining Balance
$548,913
Equity Gap
$31,087
Loan Type
FHAAdjust Your Scenario
$29,000
$29,000$31,087
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (FHA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 4.99% + gap loan
$2,959/moAssumed loan: $2,943/mo
Gap financing: $16/mo
$523less per month with the assumable
Your Savings on This Property
9074 Truckee, Commerce City · 4.99% FHA vs 6.5% conventional
$523
per month
$6,280
per year
$188,394
over 30 years
$188,394
interest saved
How gap financing works: The equity gap ($31,087) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($2,087 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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