Loan Comparison: 3.69% vs 6.5%
7463 Quail, Littleton, CO 80127 · 2bd/1ba · $379,000
List Price
$379,000
Assumable Rate
3.69%
Remaining Balance
$231,630
Equity Gap
$146,361
Loan Type
FHAAdjust Your Scenario
$18,950
$18,950$146,361
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,276/moAssumable @ 3.69% + gap loan
$2,045/moAssumed loan: $1,065/mo
Gap financing: $980/mo
$231less per month with the assumable
Your Savings on This Property
7463 Quail, Littleton · 3.69% FHA vs 6.5% conventional
$231
per month
$2,775
per year
$83,245
over 30 years
$82,236
interest saved
How gap financing works: The equity gap ($146,361) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,950, 5% of purchase price) and a second mortgage for the rest ($127,411 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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