Loan Comparison: 3.45% vs 6.5%
8257 Fillmore Way, Littleton, CO 80122 · 4bd/3ba · $319,000
List Price
$319,000
Assumable Rate
3.45%
Remaining Balance
$251,796
Equity Gap
$67,204
Loan Type
FHAAdjust Your Scenario
$15,950
$15,950$67,204
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,915/moAssumable @ 3.45% + gap loan
$1,482/moAssumed loan: $1,124/mo
Gap financing: $358/mo
$433less per month with the assumable
Your Savings on This Property
8257 Fillmore Way, Littleton · 3.45% FHA vs 6.5% conventional
$433
per month
$5,201
per year
$156,041
over 30 years
$156,041
interest saved
How gap financing works: The equity gap ($67,204) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,950, 5% of purchase price) and a second mortgage for the rest ($51,254 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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