Loan Comparison: 2.52% vs 6.5%
10279 Fair Avenue, Littleton, CO 80127 · 2bd/1ba · $399,000
List Price
$399,000
Assumable Rate
2.52%
Remaining Balance
$304,674
Equity Gap
$94,325
Loan Type
FHAAdjust Your Scenario
$19,950
$19,950$94,325
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.52% (FHA)
Blended Rate: 3.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 2.52% + gap loan
$1,727/moAssumed loan: $1,207/mo
Gap financing: $520/mo
$669less per month with the assumable
Your Savings on This Property
10279 Fair Avenue, Littleton · 2.52% FHA vs 6.5% conventional
$669
per month
$8,026
per year
$240,772
over 30 years
$240,771
interest saved
How gap financing works: The equity gap ($94,325) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($74,375 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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