Loan Comparison: 3.02% vs 6.5%
18984 Oak Creek Way, Parker, CO 80134 · 3bd/2ba · $675,000
List Price
$675,000
Assumable Rate
3.02%
Remaining Balance
$399,452
Equity Gap
$275,548
Loan Type
FHAAdjust Your Scenario
$33,750
$33,750$275,548
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.02% + gap loan
$3,379/moAssumed loan: $1,688/mo
Gap financing: $1,691/mo
$674less per month with the assumable
Your Savings on This Property
18984 Oak Creek Way, Parker · 3.02% FHA vs 6.5% conventional
$674
per month
$8,088
per year
$242,652
over 30 years
$242,652
interest saved
How gap financing works: The equity gap ($275,548) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($241,798 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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