Loan Comparison: 2.68% vs 6.5%
12858 Ironstone, Parker, CO 80134 · 1bd/1ba · $240,000
List Price
$240,000
Assumable Rate
2.68%
Remaining Balance
$200,337
Equity Gap
$35,425
Loan Type
FHAAdjust Your Scenario
$12,000
$12,000$35,425
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 3.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.68% + gap loan
$991/moAssumed loan: $810/mo
Gap financing: $180/mo
$451less per month with the assumable
Your Savings on This Property
12858 Ironstone, Parker · 2.68% FHA vs 6.5% conventional
$451
per month
$5,407
per year
$162,197
over 30 years
$157,959
interest saved
How gap financing works: The equity gap ($35,425) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($23,425 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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