Loan Comparison: 3.44% vs 6.5%
16600 Las Ramblas, Parker, CO 80134 · 2bd/2ba · $346,000
List Price
$346,000
Assumable Rate
3.44%
Remaining Balance
$192,380
Equity Gap
$151,464
Loan Type
FHAAdjust Your Scenario
$17,300
$17,300$151,464
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (FHA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,078/moAssumable @ 3.44% + gap loan
$1,889/moAssumed loan: $857/mo
Gap financing: $1,032/mo
$189less per month with the assumable
Your Savings on This Property
16600 Las Ramblas, Parker · 3.44% FHA vs 6.5% conventional
$189
per month
$2,263
per year
$67,882
over 30 years
$65,726
interest saved
How gap financing works: The equity gap ($151,464) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,300, 5% of purchase price) and a second mortgage for the rest ($134,164 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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