Loan Comparison: 2.74% vs 6.5%
20012 Briarwood, Parker, CO 80138 · 2bd/2ba · $395,000
List Price
$395,000
Assumable Rate
2.74%
Remaining Balance
$283,003
Equity Gap
$111,996
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$111,996
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 2.74% + gap loan
$1,863/moAssumed loan: $1,154/mo
Gap financing: $709/mo
$509less per month with the assumable
Your Savings on This Property
20012 Briarwood, Parker · 2.74% FHA vs 6.5% conventional
$509
per month
$6,104
per year
$183,135
over 30 years
$183,134
interest saved
How gap financing works: The equity gap ($111,996) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($92,246 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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