Loan Comparison: 3.02% vs 6.5%
7277 68th, Commerce City, CO 80022 · 4bd/2ba · $470,000
List Price
$470,000
Assumable Rate
3.02%
Remaining Balance
$286,223
Equity Gap
$234,318
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$234,318
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.02% + gap loan
$2,831/moAssumed loan: $1,210/mo
Gap financing: $1,621/mo
Your Savings on This Property
7277 68th, Commerce City · 3.02% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$47,430
interest saved
How gap financing works: The equity gap ($234,318) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($210,818 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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