Loan Comparison: 3.02% vs 6.5%
9555 Deerhorn Court, Parker, CO 80013 · 3bd/2ba · $415,000
List Price
$415,000
Assumable Rate
3.02%
Remaining Balance
$332,585
Equity Gap
$82,414
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$82,414
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 3.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.02% + gap loan
$1,837/moAssumed loan: $1,406/mo
Gap financing: $431/mo
$655less per month with the assumable
Your Savings on This Property
9555 Deerhorn Court, Parker · 3.02% FHA vs 6.5% conventional
$655
per month
$7,860
per year
$235,794
over 30 years
$235,793
interest saved
How gap financing works: The equity gap ($82,414) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($61,664 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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