Loan Comparison: 6.95% vs 6.5%
9291 Twenty Mile Road, Parker, CO 80134 · 4bd/4ba · $359,999
List Price
$359,999
Assumable Rate
6.95%
Remaining Balance
$121,136
Equity Gap
$238,862
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$238,862
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.95% (FHA)
Blended Rate: 7.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 6.95% + gap loan
$2,346/moAssumed loan: $802/mo
Gap financing: $1,544/mo
Your Savings on This Property
9291 Twenty Mile Road, Parker · 6.95% 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 ($238,862) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($220,862 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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