Loan Comparison: 4.03% vs 6.5%
7381 82nd, Commerce City, CO 80022 · 3bd/2ba · $290,000
List Price
$290,000
Assumable Rate
4.03%
Remaining Balance
$216,149
Equity Gap
$85,275
Loan Type
FHAAdjust Your Scenario
$14,500
$14,500$85,275
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (FHA)
Blended Rate: 5.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 4.03% + gap loan
$1,580/moAssumed loan: $1,036/mo
Gap financing: $544/mo
$161less per month with the assumable
Your Savings on This Property
7381 82nd, Commerce City · 4.03% FHA vs 6.5% conventional
$161
per month
$1,938
per year
$58,132
over 30 years
$69,556
interest saved
How gap financing works: The equity gap ($85,275) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($70,775 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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