Loan Comparison: 2.88% vs 6.5%
11610 Crow Hill, Parker, CO 80134 · 7bd/4ba · $645,000
List Price
$645,000
Assumable Rate
2.88%
Remaining Balance
$502,689
Equity Gap
$141,204
Loan Type
FHAAdjust Your Scenario
$32,250
$32,250$141,204
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 2.88% + gap loan
$2,925/moAssumed loan: $2,087/mo
Gap financing: $838/mo
$948less per month with the assumable
Your Savings on This Property
11610 Crow Hill, Parker · 2.88% FHA vs 6.5% conventional
$948
per month
$11,379
per year
$341,378
over 30 years
$340,271
interest saved
How gap financing works: The equity gap ($141,204) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($108,954 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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