Loan Comparison: 6.11% vs 6.5%
8986 Woodmere Court, Parker, CO 80134 · 4bd/2ba · $569,000
List Price
$569,000
Assumable Rate
6.11%
Remaining Balance
$483,151
Equity Gap
$85,849
Loan Type
FHAAdjust Your Scenario
$28,450
$28,450$85,849
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (FHA)
Blended Rate: 6.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,417/moAssumable @ 6.11% + gap loan
$3,332/moAssumed loan: $2,931/mo
Gap financing: $401/mo
$84less per month with the assumable
Your Savings on This Property
8986 Woodmere Court, Parker · 6.11% FHA vs 6.5% conventional
$84
per month
$1,012
per year
$30,352
over 30 years
$30,352
interest saved
How gap financing works: The equity gap ($85,849) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,450, 5% of purchase price) and a second mortgage for the rest ($57,399 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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