Loan Comparison: 2.84% vs 6.5%
2682 Easter Avenue, Littleton, CO 80122 · 4bd/4ba · $410,000
List Price
$410,000
Assumable Rate
2.84%
Remaining Balance
$351,415
Equity Gap
$58,584
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$58,584
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 2.84% + gap loan
$1,718/moAssumed loan: $1,451/mo
Gap financing: $266/mo
$744less per month with the assumable
Your Savings on This Property
2682 Easter Avenue, Littleton · 2.84% FHA vs 6.5% conventional
$744
per month
$8,930
per year
$267,908
over 30 years
$267,907
interest saved
How gap financing works: The equity gap ($58,584) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($38,084 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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