Loan Comparison: 2.96% vs 6.5%
5101 Washington Street, Littleton, CO 80121 · 4bd/3ba · $449,900
List Price
$449,900
Assumable Rate
2.96%
Remaining Balance
$369,900
Equity Gap
$79,999
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$79,999
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.96% + gap loan
$1,954/moAssumed loan: $1,552/mo
Gap financing: $402/mo
$748less per month with the assumable
Your Savings on This Property
5101 Washington Street, Littleton · 2.96% FHA vs 6.5% conventional
$748
per month
$8,974
per year
$269,233
over 30 years
$269,232
interest saved
How gap financing works: The equity gap ($79,999) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($57,504 at 7.5%). 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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