Loan Comparison: 4.59% vs 6.5%
7429 Alkire Street, Littleton, CO 80127 · 3bd/2ba · $320,000
List Price
$320,000
Assumable Rate
4.59%
Remaining Balance
$213,676
Equity Gap
$106,323
Loan Type
FHAAdjust Your Scenario
$16,000
$16,000$106,323
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.59% (FHA)
Blended Rate: 5.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 4.59% + gap loan
$1,726/moAssumed loan: $1,094/mo
Gap financing: $632/mo
$196less per month with the assumable
Your Savings on This Property
7429 Alkire Street, Littleton · 4.59% FHA vs 6.5% conventional
$196
per month
$2,350
per year
$70,493
over 30 years
$70,492
interest saved
How gap financing works: The equity gap ($106,323) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($90,323 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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