Loan Comparison: 2.81% vs 6.5%
17783 Coral Burst, Parker, CO 80134 · 5bd/4ba · $787,000
List Price
$787,000
Assumable Rate
2.81%
Remaining Balance
$456,609
Equity Gap
$330,390
Loan Type
FHAAdjust Your Scenario
$39,350
$39,350$330,390
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,726/moAssumable @ 2.81% + gap loan
$4,116/moAssumed loan: $1,879/mo
Gap financing: $2,238/mo
$609less per month with the assumable
Your Savings on This Property
17783 Coral Burst, Parker · 2.81% FHA vs 6.5% conventional
$609
per month
$7,310
per year
$219,313
over 30 years
$219,312
interest saved
How gap financing works: The equity gap ($330,390) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,350, 5% of purchase price) and a second mortgage for the rest ($291,040 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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