Loan Comparison: 3.17% vs 6.5%
11778 Cooper Drive, Littleton, CO 80127 · 3bd/4ba · $775,000
List Price
$775,000
Assumable Rate
3.17%
Remaining Balance
$347,818
Equity Gap
$427,182
Loan Type
FHAAdjust Your Scenario
$38,750
$38,750$427,182
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.17% (FHA)
Blended Rate: 5.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 3.17% + gap loan
$4,214/moAssumed loan: $1,498/mo
Gap financing: $2,716/mo
$439less per month with the assumable
Your Savings on This Property
11778 Cooper Drive, Littleton · 3.17% FHA vs 6.5% conventional
$439
per month
$5,270
per year
$158,087
over 30 years
$158,087
interest saved
How gap financing works: The equity gap ($427,182) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($388,432 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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