Loan Comparison: 2.83% vs 6.5%
9758 Laredo, Commerce City, CO 80022 · 3bd/3ba · $330,000
List Price
$330,000
Assumable Rate
2.83%
Remaining Balance
$274,130
Equity Gap
$66,413
Loan Type
FHAAdjust Your Scenario
$16,500
$16,500$66,413
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 3.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 2.83% + gap loan
$1,515/moAssumed loan: $1,131/mo
Gap financing: $384/mo
$467less per month with the assumable
Your Savings on This Property
9758 Laredo, Commerce City · 2.83% FHA vs 6.5% conventional
$467
per month
$5,604
per year
$168,114
over 30 years
$178,657
interest saved
How gap financing works: The equity gap ($66,413) 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 ($49,913 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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