Loan Comparison: 2.68% vs 6.5%
12858 Ironstone, Parker, CO 80134 · 1bd/1ba · $249,900
List Price
$249,900
Assumable Rate
2.68%
Remaining Balance
$202,230
Equity Gap
$45,325
Loan Type
FHAAdjust Your Scenario
$12,495
$12,495$45,325
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 2.68% + gap loan
$1,071/moAssumed loan: $818/mo
Gap financing: $252/mo
$430less per month with the assumable
Your Savings on This Property
12858 Ironstone, Parker · 2.68% FHA vs 6.5% conventional
$430
per month
$5,160
per year
$154,807
over 30 years
$152,462
interest saved
How gap financing works: The equity gap ($45,325) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,495, 5% of purchase price) and a second mortgage for the rest ($32,830 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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