Loan Comparison: 5.51% vs 6.5%
10208 Xanadu, Commerce City, CO 80022 · 2bd/3ba · $459,900
List Price
$459,900
Assumable Rate
5.51%
Remaining Balance
$445,959
Equity Gap
$38,832
Loan Type
FHAAdjust Your Scenario
$22,995
$22,995$38,832
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.51% (FHA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 5.51% + gap loan
$2,657/moAssumed loan: $2,535/mo
Gap financing: $122/mo
$105less per month with the assumable
Your Savings on This Property
10208 Xanadu, Commerce City · 5.51% FHA vs 6.5% conventional
$105
per month
$1,258
per year
$37,749
over 30 years
$62,640
interest saved
How gap financing works: The equity gap ($38,832) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($15,837 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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