Loan Comparison: 2.87% vs 6.5%
4465 Parfet, Wheat Ridge, CO 80033 · 3bd/3ba · $474,900
List Price
$474,900
Assumable Rate
2.87%
Remaining Balance
$332,245
Equity Gap
$142,655
Loan Type
FHAAdjust Your Scenario
$23,745
$23,745$142,655
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.87% + gap loan
$2,292/moAssumed loan: $1,378/mo
Gap financing: $914/mo
$560less per month with the assumable
Your Savings on This Property
4465 Parfet, Wheat Ridge · 2.87% FHA vs 6.5% conventional
$560
per month
$6,717
per year
$201,499
over 30 years
$201,499
interest saved
How gap financing works: The equity gap ($142,655) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,745, 5% of purchase price) and a second mortgage for the rest ($118,910 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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