Loan Comparison: 6.35% vs 6.5%
17941 Sky Pilot Avenue, Parker, CO 80134 · 3bd/3ba · $695,000
List Price
$695,000
Assumable Rate
6.35%
Remaining Balance
$618,234
Equity Gap
$76,765
Loan Type
FHAAdjust Your Scenario
$34,750
$34,750$76,765
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (FHA)
Blended Rate: 6.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,173/moAssumable @ 6.35% + gap loan
$4,141/moAssumed loan: $3,847/mo
Gap financing: $294/mo
$33less per month with the assumable
Your Savings on This Property
17941 Sky Pilot Avenue, Parker · 6.35% FHA vs 6.5% conventional
$33
per month
$391
per year
$11,729
over 30 years
$11,728
interest saved
How gap financing works: The equity gap ($76,765) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,750, 5% of purchase price) and a second mortgage for the rest ($42,015 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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