Loan Comparison: 3.16% vs 6.5%
18295 Michigan Creek, Parker, CO 80134 · 3bd/3ba · $625,000
List Price
$625,000
Assumable Rate
3.16%
Remaining Balance
$386,161
Equity Gap
$238,839
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$238,839
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 3.16% + gap loan
$3,258/moAssumed loan: $1,662/mo
Gap financing: $1,596/mo
$495less per month with the assumable
Your Savings on This Property
18295 Michigan Creek, Parker · 3.16% FHA vs 6.5% conventional
$495
per month
$5,942
per year
$178,251
over 30 years
$178,251
interest saved
How gap financing works: The equity gap ($238,839) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($207,589 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.
🏠
Back to This Listing
View photos, details, and request a showing for 18295 Michigan Creek.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.