Loan Comparison: 3.23% vs 6.5%
10114 Waco, Commerce City, CO 80022 · 3bd/4ba · $499,900
List Price
$499,900
Assumable Rate
3.23%
Remaining Balance
$363,431
Equity Gap
$136,469
Loan Type
FHAAdjust Your Scenario
$24,995
$24,995$136,469
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.23% + gap loan
$2,435/moAssumed loan: $1,578/mo
Gap financing: $857/mo
$567less per month with the assumable
Your Savings on This Property
10114 Waco, Commerce City · 3.23% FHA vs 6.5% conventional
$567
per month
$6,803
per year
$204,083
over 30 years
$204,083
interest saved
How gap financing works: The equity gap ($136,469) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($111,474 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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