Loan Comparison: 2.98% vs 6.5%
8896 Brompton, Parker, CO 80134 · 3bd/2ba · $350,000
List Price
$350,000
Assumable Rate
2.98%
Remaining Balance
$328,948
Equity Gap
$33,042
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$33,042
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 3.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 2.98% + gap loan
$1,503/moAssumed loan: $1,383/mo
Gap financing: $120/mo
$599less per month with the assumable
Your Savings on This Property
8896 Brompton, Parker · 2.98% FHA vs 6.5% conventional
$599
per month
$7,186
per year
$215,571
over 30 years
$227,561
interest saved
How gap financing works: The equity gap ($33,042) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($15,542 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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