Loan Comparison: 2.79% vs 6.5%
10257 Layton, Littleton, CO 80127 · 4bd/4ba · $670,000
List Price
$670,000
Assumable Rate
2.79%
Remaining Balance
$505,805
Equity Gap
$164,194
Loan Type
FHAAdjust Your Scenario
$33,500
$33,500$164,194
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (FHA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,023/moAssumable @ 2.79% + gap loan
$3,081/moAssumed loan: $2,076/mo
Gap financing: $1,005/mo
$943less per month with the assumable
Your Savings on This Property
10257 Layton, Littleton · 2.79% FHA vs 6.5% conventional
$943
per month
$11,311
per year
$339,319
over 30 years
$339,318
interest saved
How gap financing works: The equity gap ($164,194) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,500, 5% of purchase price) and a second mortgage for the rest ($130,694 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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