Loan Comparison: 3.02% vs 6.5%
7277 68th, Commerce City, CO 80022 · 5bd/2ba · $470,000
List Price
$470,000
Assumable Rate
3.02%
Remaining Balance
$234,051
Equity Gap
$235,949
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$235,949
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.02% + gap loan
$2,623/moAssumed loan: $989/mo
Gap financing: $1,634/mo
$199less per month with the assumable
Your Savings on This Property
7277 68th, Commerce City · 3.02% FHA vs 6.5% conventional
$199
per month
$2,392
per year
$71,762
over 30 years
$71,762
interest saved
How gap financing works: The equity gap ($235,949) 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 ($212,449 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.