Loan Comparison: 2.87% vs 6.5%
8462 Upham Way, Littleton, CO 80128 · 2bd/2ba · $548,000
List Price
$548,000
Assumable Rate
2.87%
Remaining Balance
$368,927
Equity Gap
$179,072
Loan Type
FHAAdjust Your Scenario
$27,400
$27,400$179,072
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,291/moAssumable @ 2.87% + gap loan
$2,590/moAssumed loan: $1,530/mo
Gap financing: $1,061/mo
$700less per month with the assumable
Your Savings on This Property
8462 Upham Way, Littleton · 2.87% FHA vs 6.5% conventional
$700
per month
$8,404
per year
$252,133
over 30 years
$252,132
interest saved
How gap financing works: The equity gap ($179,072) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,400, 5% of purchase price) and a second mortgage for the rest ($151,672 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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