Loan Comparison: 2.85% vs 6.5%
6521 Cedar, Littleton, CO 80120 · 4bd/2ba · $730,000
List Price
$730,000
Assumable Rate
2.85%
Remaining Balance
$529,774
Equity Gap
$195,403
Loan Type
FHAAdjust Your Scenario
$36,500
$36,500$195,403
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.85% (FHA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,383/moAssumable @ 2.85% + gap loan
$3,413/moAssumed loan: $2,191/mo
Gap financing: $1,222/mo
$971less per month with the assumable
Your Savings on This Property
6521 Cedar, Littleton · 2.85% FHA vs 6.5% conventional
$971
per month
$11,648
per year
$349,432
over 30 years
$344,609
interest saved
How gap financing works: The equity gap ($195,403) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,500, 5% of purchase price) and a second mortgage for the rest ($158,903 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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