Loan Comparison: 4.51% vs 6.5%
21832 Tallkid Avenue, Parker, CO 80138 · 3bd/3ba · $700,000
List Price
$700,000
Assumable Rate
4.51%
Remaining Balance
$346,416
Equity Gap
$353,584
Loan Type
FHAAdjust Your Scenario
$35,000
$35,000$353,584
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.51% (FHA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 4.51% + gap loan
$3,985/moAssumed loan: $1,757/mo
Gap financing: $2,228/mo
$218less per month with the assumable
Your Savings on This Property
21832 Tallkid Avenue, Parker · 4.51% FHA vs 6.5% conventional
$218
per month
$2,620
per year
$78,613
over 30 years
$78,613
interest saved
How gap financing works: The equity gap ($353,584) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($318,584 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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