Loan Comparison: 2.9% vs 6.5%
8935 Snowball Way, Parker, CO 80134 · 2bd/1ba · $639,990
List Price
$639,990
Assumable Rate
2.9%
Remaining Balance
$36,558
Equity Gap
$603,431
Loan Type
FHAAdjust Your Scenario
$32,000
$32,000$603,431
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 7.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 2.9% + gap loan
$4,148/moAssumed loan: $152/mo
Gap financing: $3,996/mo
Your Savings on This Property
8935 Snowball Way, Parker · 2.9% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($603,431) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($571,431 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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