Loan Comparison: 6.12% vs 6.5%
7934 Slate River Street, Littleton, CO 80125 · 4bd/3ba · $490,000
List Price
$490,000
Assumable Rate
6.12%
Remaining Balance
$460,403
Equity Gap
$29,597
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$29,597
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.12% (FHA)
Blended Rate: 6.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 6.12% + gap loan
$2,832/moAssumed loan: $2,796/mo
Gap financing: $36/mo
$111less per month with the assumable
Your Savings on This Property
7934 Slate River Street, Littleton · 6.12% FHA vs 6.5% conventional
$111
per month
$1,328
per year
$39,841
over 30 years
$39,841
interest saved
How gap financing works: The equity gap ($29,597) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($5,097 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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