Loan Comparison: 3.16% vs 6.5%
19650 Culpepper, Parker, CO 80134 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.16%
Remaining Balance
$347,502
Equity Gap
$203,294
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$203,294
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.16% + gap loan
$2,847/moAssumed loan: $1,495/mo
Gap financing: $1,352/mo
$456less per month with the assumable
Your Savings on This Property
19650 Culpepper, Parker · 3.16% FHA vs 6.5% conventional
$456
per month
$5,467
per year
$164,021
over 30 years
$164,817
interest saved
How gap financing works: The equity gap ($203,294) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($175,794 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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