Loan Comparison: 4.37% vs 6.5%
6740 76th, Commerce City, CO 80022 · 3bd/1ba · $388,000
List Price
$388,000
Assumable Rate
4.37%
Remaining Balance
$212,118
Equity Gap
$175,431
Loan Type
FHAAdjust Your Scenario
$19,400
$19,400$175,431
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,330/moAssumable @ 4.37% + gap loan
$2,258/moAssumed loan: $1,058/mo
Gap financing: $1,200/mo
$72less per month with the assumable
Your Savings on This Property
6740 76th, Commerce City · 4.37% FHA vs 6.5% conventional
$72
per month
$859
per year
$25,780
over 30 years
$25,329
interest saved
How gap financing works: The equity gap ($175,431) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,400, 5% of purchase price) and a second mortgage for the rest ($156,031 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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