Loan Comparison: 5.25% vs 6.5%
4867 Johnson Street, Littleton, CO 80123 · 4bd/2ba · $639,900
List Price
$639,900
Assumable Rate
5.25%
Remaining Balance
$494,012
Equity Gap
$145,888
Loan Type
FHAAdjust Your Scenario
$31,995
$31,995$145,888
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (FHA)
Blended Rate: 5.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,842/moAssumable @ 5.25% + gap loan
$3,524/moAssumed loan: $2,728/mo
Gap financing: $796/mo
$318less per month with the assumable
Your Savings on This Property
4867 Johnson Street, Littleton · 5.25% FHA vs 6.5% conventional
$318
per month
$3,817
per year
$114,503
over 30 years
$114,503
interest saved
How gap financing works: The equity gap ($145,888) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,995, 5% of purchase price) and a second mortgage for the rest ($113,893 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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