Loan Comparison: 2.77% vs 6.5%
7409 Alkire, Littleton, CO 80127 · 2bd/2ba · $310,000
List Price
$310,000
Assumable Rate
2.77%
Remaining Balance
$230,885
Equity Gap
$80,181
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$80,181
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 2.77% + gap loan
$1,442/moAssumed loan: $945/mo
Gap financing: $497/mo
$419less per month with the assumable
Your Savings on This Property
7409 Alkire, Littleton · 2.77% FHA vs 6.5% conventional
$419
per month
$5,029
per year
$150,870
over 30 years
$151,936
interest saved
How gap financing works: The equity gap ($80,181) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($64,681 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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