Loan Comparison: 2.9% vs 6.5%
8935 Snowball, Parker, CO 80134 · 3bd/2ba · $654,500
List Price
$654,500
Assumable Rate
2.9%
Remaining Balance
$516,787
Equity Gap
$617,859
Loan Type
FHAAdjust Your Scenario
$32,725
$32,725$617,859
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 5.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,930/moAssumable @ 2.9% + gap loan
$6,650/moAssumed loan: $2,151/mo
Gap financing: $4,499/mo
Your Savings on This Property
8935 Snowball, Parker · 2.9% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($617,859) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,725, 5% of purchase price) and a second mortgage for the rest ($585,134 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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