Loan Comparison: 5.22% vs 6.5%
20577 Shefield Court, Parker, CO 80138 · 5bd/3ba · $659,900
List Price
$659,900
Assumable Rate
5.22%
Remaining Balance
$526,089
Equity Gap
$133,811
Loan Type
FHAAdjust Your Scenario
$32,995
$32,995$133,811
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,962/moAssumable @ 5.22% + gap loan
$3,600/moAssumed loan: $2,895/mo
Gap financing: $705/mo
$362less per month with the assumable
Your Savings on This Property
20577 Shefield Court, Parker · 5.22% FHA vs 6.5% conventional
$362
per month
$4,347
per year
$130,403
over 30 years
$130,403
interest saved
How gap financing works: The equity gap ($133,811) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,995, 5% of purchase price) and a second mortgage for the rest ($100,816 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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