Loan Comparison: 6.27% vs 6.5%
19798 Glendale Lane, Parker, CO 80134 · 6bd/8ba · $540,000
List Price
$540,000
Assumable Rate
6.27%
Remaining Balance
$469,787
Equity Gap
$70,212
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$70,212
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (FHA)
Blended Rate: 6.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 6.27% + gap loan
$3,201/moAssumed loan: $2,899/mo
Gap financing: $302/mo
$42less per month with the assumable
Your Savings on This Property
19798 Glendale Lane, Parker · 6.27% FHA vs 6.5% conventional
$42
per month
$500
per year
$15,009
over 30 years
$15,008
interest saved
How gap financing works: The equity gap ($70,212) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($43,212 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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