Loan Comparison: 3.69% vs 6.5%
7881 Canvasback Circle, Littleton, CO 80125 · 4bd/4ba · $619,999
List Price
$619,999
Assumable Rate
3.69%
Remaining Balance
$332,239
Equity Gap
$287,759
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$287,759
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 3.69% + gap loan
$3,323/moAssumed loan: $1,527/mo
Gap financing: $1,795/mo
$400less per month with the assumable
Your Savings on This Property
7881 Canvasback Circle, Littleton · 3.69% FHA vs 6.5% conventional
$400
per month
$4,803
per year
$144,078
over 30 years
$144,077
interest saved
How gap financing works: The equity gap ($287,759) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($256,759 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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