Loan Comparison: 3.1% vs 6.5%
8651 Pinery Parkway, Parker, CO 80109 · 3bd/3ba · $790,000
List Price
$790,000
Assumable Rate
3.1%
Remaining Balance
$626,913
Equity Gap
$163,087
Loan Type
FHAAdjust Your Scenario
$39,500
$39,500$163,087
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,744/moAssumable @ 3.1% + gap loan
$3,541/moAssumed loan: $2,677/mo
Gap financing: $864/mo
$1,203less per month with the assumable
Your Savings on This Property
8651 Pinery Parkway, Parker · 3.1% FHA vs 6.5% conventional
$1,203
per month
$14,430
per year
$432,904
over 30 years
$432,904
interest saved
How gap financing works: The equity gap ($163,087) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,500, 5% of purchase price) and a second mortgage for the rest ($123,587 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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