Loan Comparison: 4.87% vs 6.5%
6420 63rd, Commerce City, CO 80022 · 2bd/1ba · $350,000
List Price
$350,000
Assumable Rate
4.87%
Remaining Balance
$253,210
Equity Gap
$133,834
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$133,834
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.87% (FHA)
Blended Rate: 6.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 4.87% + gap loan
$2,234/moAssumed loan: $1,339/mo
Gap financing: $895/mo
Your Savings on This Property
6420 63rd, Commerce City · 4.87% 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 ($133,834) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($116,334 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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