Loan Comparison: 6.69% vs 6.5%
7474 Logan Street, Littleton, CO 80122 · 3bd/2ba · $499,999
List Price
$499,999
Assumable Rate
6.69%
Remaining Balance
$39,293
Equity Gap
$460,705
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$460,705
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.69% (FHA)
Blended Rate: 7.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 6.69% + gap loan
$3,300/moAssumed loan: $253/mo
Gap financing: $3,047/mo
Your Savings on This Property
7474 Logan Street, Littleton · 6.69% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($460,705) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($435,705 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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