Loan Comparison: 6.25% vs 6.5%
12912 Ironstone Way, Parker, CO 80134 · 6bd/5ba · $277,000
List Price
$277,000
Assumable Rate
6.25%
Remaining Balance
$247,873
Equity Gap
$29,126
Loan Type
FHAAdjust Your Scenario
$13,850
$13,850$29,126
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.25% (FHA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,663/moAssumable @ 6.25% + gap loan
$1,633/moAssumed loan: $1,526/mo
Gap financing: $107/mo
$30less per month with the assumable
Your Savings on This Property
12912 Ironstone Way, Parker · 6.25% FHA vs 6.5% conventional
$30
per month
$363
per year
$10,900
over 30 years
$10,899
interest saved
How gap financing works: The equity gap ($29,126) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,850, 5% of purchase price) and a second mortgage for the rest ($15,276 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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