Loan Comparison: 3.85% vs 6.5%
8436 Reed Street, Littleton, CO 80230 · 3bd/3ba · $505,000
List Price
$505,000
Assumable Rate
3.85%
Remaining Balance
$419,879
Equity Gap
$85,120
Loan Type
FHAAdjust Your Scenario
$25,250
$25,250$85,120
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (FHA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 3.85% + gap loan
$2,387/moAssumed loan: $1,968/mo
Gap financing: $419/mo
$645less per month with the assumable
Your Savings on This Property
8436 Reed Street, Littleton · 3.85% FHA vs 6.5% conventional
$645
per month
$7,744
per year
$232,308
over 30 years
$232,307
interest saved
How gap financing works: The equity gap ($85,120) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($59,870 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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