Loan Comparison: 2.88% vs 6.5%
11610 Crow Hill Drive, Parker, CO 80134 · 4bd/3ba · $628,100
List Price
$628,100
Assumable Rate
2.88%
Remaining Balance
$499,352
Equity Gap
$128,747
Loan Type
FHAAdjust Your Scenario
$31,405
$31,405$128,747
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,772/moAssumable @ 2.88% + gap loan
$2,754/moAssumed loan: $2,073/mo
Gap financing: $681/mo
$1,018less per month with the assumable
Your Savings on This Property
11610 Crow Hill Drive, Parker · 2.88% FHA vs 6.5% conventional
$1,018
per month
$12,213
per year
$366,401
over 30 years
$366,400
interest saved
How gap financing works: The equity gap ($128,747) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,405, 5% of purchase price) and a second mortgage for the rest ($97,342 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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