Loan Comparison: 3.69% vs 6.5%
7463 Quail, Littleton, CO 80127 · 2bd/1ba · $385,000
List Price
$385,000
Assumable Rate
3.69%
Remaining Balance
$232,135
Equity Gap
$152,865
Loan Type
FHAAdjust Your Scenario
$19,250
$19,250$152,865
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 3.69% + gap loan
$2,095/moAssumed loan: $1,067/mo
Gap financing: $1,027/mo
$217less per month with the assumable
Your Savings on This Property
7463 Quail, Littleton · 3.69% FHA vs 6.5% conventional
$217
per month
$2,607
per year
$78,206
over 30 years
$78,206
interest saved
How gap financing works: The equity gap ($152,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($133,615 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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