Loan Comparison: 2.81% vs 6.5%
13788 Tall Oaks, Parker, CO 80134 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.81%
Remaining Balance
$367,235
Equity Gap
$158,599
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$158,599
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.81% + gap loan
$2,529/moAssumed loan: $1,511/mo
Gap financing: $1,018/mo
$624less per month with the assumable
Your Savings on This Property
13788 Tall Oaks, Parker · 2.81% FHA vs 6.5% conventional
$624
per month
$7,487
per year
$224,600
over 30 years
$225,434
interest saved
How gap financing works: The equity gap ($158,599) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($132,349 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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