Loan Comparison: 5.88% vs 6.5%
6830 Olive, Commerce City, CO 80022 · 3bd/1ba · $310,000
List Price
$310,000
Assumable Rate
5.88%
Remaining Balance
$63,458
Equity Gap
$246,542
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$246,542
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.88% (FHA)
Blended Rate: 7.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 5.88% + gap loan
$2,152/moAssumed loan: $376/mo
Gap financing: $1,777/mo
Your Savings on This Property
6830 Olive, Commerce City · 5.88% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($246,542) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($231,042 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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