Loan Comparison: 2.9% vs 6.5%
17325 Birds Foot, Parker, CO 80134 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
2.9%
Remaining Balance
$481,728
Equity Gap
$151,417
Loan Type
FHAAdjust Your Scenario
$31,500
$31,500$151,417
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 2.9% + gap loan
$2,927/moAssumed loan: $2,005/mo
Gap financing: $922/mo
$856less per month with the assumable
Your Savings on This Property
17325 Birds Foot, Parker · 2.9% FHA vs 6.5% conventional
$856
per month
$10,269
per year
$308,078
over 30 years
$311,223
interest saved
How gap financing works: The equity gap ($151,417) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($119,917 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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