Loan Comparison: 4.37% vs 6.5%
6740 76th, Commerce City, CO 80022 · 3bd/1ba · $395,000
List Price
$395,000
Assumable Rate
4.37%
Remaining Balance
$212,569
Equity Gap
$182,431
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$182,431
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 4.37% + gap loan
$2,312/moAssumed loan: $1,061/mo
Gap financing: $1,251/mo
$60less per month with the assumable
Your Savings on This Property
6740 76th, Commerce City · 4.37% FHA vs 6.5% conventional
$60
per month
$723
per year
$21,694
over 30 years
$21,694
interest saved
How gap financing works: The equity gap ($182,431) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($162,681 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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