Loan Comparison: 2.6% vs 6.5%
14899 Pepper Pike Place, Parker, CO 80016 · 5bd/5ba · $975,000
List Price
$975,000
Assumable Rate
2.6%
Remaining Balance
$377,853
Equity Gap
$597,146
Loan Type
FHAAdjust Your Scenario
$48,750
$48,750$597,146
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.6% (FHA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,855/moAssumable @ 2.6% + gap loan
$5,347/moAssumed loan: $1,513/mo
Gap financing: $3,834/mo
$507less per month with the assumable
Your Savings on This Property
14899 Pepper Pike Place, Parker · 2.6% FHA vs 6.5% conventional
$507
per month
$6,088
per year
$182,653
over 30 years
$182,652
interest saved
How gap financing works: The equity gap ($597,146) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,750, 5% of purchase price) and a second mortgage for the rest ($548,396 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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