Loan Comparison: 2.98% vs 6.5%
8896 Brompton, Parker, CO 80134 · 3bd/2ba · $360,000
List Price
$360,000
Assumable Rate
2.98%
Remaining Balance
$318,351
Equity Gap
$41,648
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$41,648
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 3.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 2.98% + gap loan
$1,521/moAssumed loan: $1,339/mo
Gap financing: $182/mo
$641less per month with the assumable
Your Savings on This Property
8896 Brompton, Parker · 2.98% FHA vs 6.5% conventional
$641
per month
$7,693
per year
$230,793
over 30 years
$230,792
interest saved
How gap financing works: The equity gap ($41,648) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($23,648 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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