Loan Comparison: 2.75% vs 6.5%
2850 Centennial, Littleton, CO 80123 · 1bd/1ba · $300,000
List Price
$300,000
Assumable Rate
2.75%
Remaining Balance
$248,452
Equity Gap
$52,121
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$52,121
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (FHA)
Blended Rate: 3.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.75% + gap loan
$1,300/moAssumed loan: $1,014/mo
Gap financing: $285/mo
$502less per month with the assumable
Your Savings on This Property
2850 Centennial, Littleton · 2.75% FHA vs 6.5% conventional
$502
per month
$6,020
per year
$180,606
over 30 years
$181,179
interest saved
How gap financing works: The equity gap ($52,121) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($37,121 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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