Loan Comparison: 2.74% vs 6.5%
9283 Twenty Mile Road, Parker, CO 80134 · 5bd/4ba · $369,750
List Price
$369,750
Assumable Rate
2.74%
Remaining Balance
$241,924
Equity Gap
$127,826
Loan Type
FHAAdjust Your Scenario
$18,488
$18,488$127,826
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,220/moAssumable @ 2.74% + gap loan
$1,751/moAssumed loan: $986/mo
Gap financing: $765/mo
$469less per month with the assumable
Your Savings on This Property
9283 Twenty Mile Road, Parker · 2.74% FHA vs 6.5% conventional
$469
per month
$5,632
per year
$168,969
over 30 years
$168,969
interest saved
How gap financing works: The equity gap ($127,826) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,488, 5% of purchase price) and a second mortgage for the rest ($109,338 at 7.5%). 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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