Loan Comparison: 3.23% vs 6.5%
8389 Independence, Littleton, CO 80128 · 2bd/2ba · $365,000
List Price
$365,000
Assumable Rate
3.23%
Remaining Balance
$242,223
Equity Gap
$122,776
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$122,776
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.23% + gap loan
$1,855/moAssumed loan: $1,052/mo
Gap financing: $804/mo
$336less per month with the assumable
Your Savings on This Property
8389 Independence, Littleton · 3.23% FHA vs 6.5% conventional
$336
per month
$4,038
per year
$121,129
over 30 years
$121,128
interest saved
How gap financing works: The equity gap ($122,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($104,526 at 8.5%). 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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