Loan Comparison: 4.2% vs 6.5%
16665 Ninebark Way, Parker, CO 80134 · 4bd/3ba · $495,000
List Price
$495,000
Assumable Rate
4.2%
Remaining Balance
$401,410
Equity Gap
$93,589
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$93,589
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 4.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 4.2% + gap loan
$2,444/moAssumed loan: $1,963/mo
Gap financing: $481/mo
$528less per month with the assumable
Your Savings on This Property
16665 Ninebark Way, Parker · 4.2% FHA vs 6.5% conventional
$528
per month
$6,336
per year
$190,081
over 30 years
$190,080
interest saved
How gap financing works: The equity gap ($93,589) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($68,839 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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