Loan Comparison: 3.45% vs 6.5%
22419 Quail Run, Parker, CO 80138 · 5bd/5ba · $792,000
List Price
$792,000
Assumable Rate
3.45%
Remaining Balance
$470,917
Equity Gap
$318,268
Loan Type
FHAAdjust Your Scenario
$39,600
$39,600$318,268
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,756/moAssumable @ 3.45% + gap loan
$4,244/moAssumed loan: $2,102/mo
Gap financing: $2,143/mo
$511less per month with the assumable
Your Savings on This Property
22419 Quail Run, Parker · 3.45% FHA vs 6.5% conventional
$511
per month
$6,137
per year
$184,125
over 30 years
$181,310
interest saved
How gap financing works: The equity gap ($318,268) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,600, 5% of purchase price) and a second mortgage for the rest ($278,668 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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