Loan Comparison: 4.57% vs 6.5%
10250 Olathe, Commerce City, CO 80022 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
4.57%
Remaining Balance
$298,106
Equity Gap
$275,610
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$275,610
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.57% (FHA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 4.57% + gap loan
$3,421/moAssumed loan: $1,523/mo
Gap financing: $1,898/mo
$32less per month with the assumable
Your Savings on This Property
10250 Olathe, Commerce City · 4.57% FHA vs 6.5% conventional
$32
per month
$380
per year
$11,393
over 30 years
$10,109
interest saved
How gap financing works: The equity gap ($275,610) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($246,860 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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