Loan Comparison: 2.9% vs 6.5%
16534 Fire Fly Avenue, Parker, CO 80134 · 4bd/4ba · $734,900
List Price
$734,900
Assumable Rate
2.9%
Remaining Balance
$512,062
Equity Gap
$222,837
Loan Type
FHAAdjust Your Scenario
$36,745
$36,745$222,837
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,413/moAssumable @ 2.9% + gap loan
$3,433/moAssumed loan: $2,131/mo
Gap financing: $1,301/mo
$980less per month with the assumable
Your Savings on This Property
16534 Fire Fly Avenue, Parker · 2.9% FHA vs 6.5% conventional
$980
per month
$11,763
per year
$352,900
over 30 years
$352,899
interest saved
How gap financing works: The equity gap ($222,837) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,745, 5% of purchase price) and a second mortgage for the rest ($186,092 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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