Loan Comparison: 3.02% vs 6.5%
4349 Ponds, Littleton, CO 80123 · 3bd/4ba · $405,000
List Price
$405,000
Assumable Rate
3.02%
Remaining Balance
$307,489
Equity Gap
$97,510
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$97,510
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.02% + gap loan
$1,894/moAssumed loan: $1,300/mo
Gap financing: $594/mo
$538less per month with the assumable
Your Savings on This Property
4349 Ponds, Littleton · 3.02% FHA vs 6.5% conventional
$538
per month
$6,457
per year
$193,721
over 30 years
$193,720
interest saved
How gap financing works: The equity gap ($97,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($77,260 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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