Loan Comparison: 6.42% vs 6.5%
11731 Riverdale Drive, Parker, CO 80138 · 4bd/4ba · $875,000
List Price
$875,000
Assumable Rate
6.42%
Remaining Balance
$813,029
Equity Gap
$61,971
Loan Type
FHAAdjust Your Scenario
$43,750
$43,750$61,971
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.42% (FHA)
Blended Rate: 6.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 6.42% + gap loan
$5,224/moAssumed loan: $5,096/mo
Gap financing: $127/mo
$30less per month with the assumable
Your Savings on This Property
11731 Riverdale Drive, Parker · 6.42% FHA vs 6.5% conventional
$30
per month
$366
per year
$10,968
over 30 years
$10,968
interest saved
How gap financing works: The equity gap ($61,971) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($18,221 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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