Loan Comparison: 3.45% vs 6.5%
9647 Chatfield Avenue, Littleton, CO 80128 · 2bd/2ba · $389,000
List Price
$389,000
Assumable Rate
3.45%
Remaining Balance
$325,691
Equity Gap
$63,309
Loan Type
FHAAdjust Your Scenario
$19,450
$19,450$63,309
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 3.45% + gap loan
$1,760/moAssumed loan: $1,453/mo
Gap financing: $307/mo
$576less per month with the assumable
Your Savings on This Property
9647 Chatfield Avenue, Littleton · 3.45% FHA vs 6.5% conventional
$576
per month
$6,909
per year
$207,258
over 30 years
$207,258
interest saved
How gap financing works: The equity gap ($63,309) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($43,859 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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