Loan Comparison: 4.87% vs 6.5%
5033 Owens Street, Littleton, CO 80127 · 2bd/2ba · $699,000
List Price
$699,000
Assumable Rate
4.87%
Remaining Balance
$177,662
Equity Gap
$521,337
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$521,337
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.87% (FHA)
Blended Rate: 6.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 4.87% + gap loan
$4,341/moAssumed loan: $940/mo
Gap financing: $3,401/mo
Your Savings on This Property
5033 Owens Street, Littleton · 4.87% 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 ($521,337) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($486,387 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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