Loan Comparison: 2.9% vs 6.5%
5672 Lowell, Littleton, CO 80123 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
2.9%
Remaining Balance
$346,700
Equity Gap
$68,299
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$68,299
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 2.9% + gap loan
$1,809/moAssumed loan: $1,443/mo
Gap financing: $366/mo
$683less per month with the assumable
Your Savings on This Property
5672 Lowell, Littleton · 2.9% FHA vs 6.5% conventional
$683
per month
$8,199
per year
$245,969
over 30 years
$245,968
interest saved
How gap financing works: The equity gap ($68,299) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($47,549 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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