Loan Comparison: 3.07% vs 6.5%
6788 Zebra Grass, Parker, CO 80138 · 3bd/3ba · $599,000
List Price
$599,000
Assumable Rate
3.07%
Remaining Balance
$488,937
Equity Gap
$111,114
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$111,114
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 3.07% + gap loan
$2,704/moAssumed loan: $2,080/mo
Gap financing: $624/mo
$893less per month with the assumable
Your Savings on This Property
6788 Zebra Grass, Parker · 3.07% FHA vs 6.5% conventional
$893
per month
$10,714
per year
$321,415
over 30 years
$322,466
interest saved
How gap financing works: The equity gap ($111,114) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($81,164 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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