Loan Comparison: 3.44% vs 6.5%
16600 Las Ramblas, Parker, CO 80134 · 2bd/2ba · $359,000
List Price
$359,000
Assumable Rate
3.44%
Remaining Balance
$192,921
Equity Gap
$164,464
Loan Type
FHAAdjust Your Scenario
$17,950
$17,950$164,464
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (FHA)
Blended Rate: 5.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,156/moAssumable @ 3.44% + gap loan
$1,986/moAssumed loan: $860/mo
Gap financing: $1,127/mo
$169less per month with the assumable
Your Savings on This Property
16600 Las Ramblas, Parker · 3.44% FHA vs 6.5% conventional
$169
per month
$2,031
per year
$60,930
over 30 years
$59,315
interest saved
How gap financing works: The equity gap ($164,464) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,950, 5% of purchase price) and a second mortgage for the rest ($146,514 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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