Loan Comparison: 3.08% vs 6.5%
8746 Cloverleaf, Parker, CO 80134 · 3bd/3ba · $490,000
List Price
$490,000
Assumable Rate
3.08%
Remaining Balance
$391,336
Equity Gap
$113,915
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$113,915
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.08% + gap loan
$2,354/moAssumed loan: $1,667/mo
Gap financing: $688/mo
$588less per month with the assumable
Your Savings on This Property
8746 Cloverleaf, Parker · 3.08% FHA vs 6.5% conventional
$588
per month
$7,055
per year
$211,655
over 30 years
$226,906
interest saved
How gap financing works: The equity gap ($113,915) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($89,415 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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