Loan Comparison: 3.62% vs 6.5%
12770 Ironstone, Parker, CO 80134 · 1bd/1ba · $270,000
List Price
$270,000
Assumable Rate
3.62%
Remaining Balance
$178,076
Equity Gap
$91,923
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$91,923
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.62% + gap loan
$1,415/moAssumed loan: $812/mo
Gap financing: $603/mo
$207less per month with the assumable
Your Savings on This Property
12770 Ironstone, Parker · 3.62% FHA vs 6.5% conventional
$207
per month
$2,480
per year
$74,388
over 30 years
$74,387
interest saved
How gap financing works: The equity gap ($91,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($78,423 at 8.5%). 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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