Loan Comparison: 3.44% vs 6.5%
16600 Las Ramblas, Parker, CO 80134 · 2bd/2ba · $365,000
List Price
$365,000
Assumable Rate
3.44%
Remaining Balance
$193,461
Equity Gap
$171,539
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$171,539
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (FHA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.44% + gap loan
$2,041/moAssumed loan: $862/mo
Gap financing: $1,179/mo
$151less per month with the assumable
Your Savings on This Property
16600 Las Ramblas, Parker · 3.44% FHA vs 6.5% conventional
$151
per month
$1,809
per year
$54,279
over 30 years
$54,279
interest saved
How gap financing works: The equity gap ($171,539) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($153,289 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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