Loan Comparison: 2.77% vs 6.5%
6471 62nd, Commerce City, CO 80022 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.77%
Remaining Balance
$333,369
Equity Gap
$191,631
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$191,631
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.77% + gap loan
$2,636/moAssumed loan: $1,364/mo
Gap financing: $1,272/mo
$516less per month with the assumable
Your Savings on This Property
6471 62nd, Commerce City · 2.77% FHA vs 6.5% conventional
$516
per month
$6,196
per year
$185,875
over 30 years
$185,875
interest saved
How gap financing works: The equity gap ($191,631) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($165,381 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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