Loan Comparison: 5.23% vs 6.5%
6436 Kline, Littleton, CO 80127 · 4bd/3ba · $569,000
List Price
$569,000
Assumable Rate
5.23%
Remaining Balance
$531,131
Equity Gap
$58,297
Loan Type
FHAAdjust Your Scenario
$28,450
$28,450$58,297
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,417/moAssumable @ 5.23% + gap loan
$3,156/moAssumed loan: $2,926/mo
Gap financing: $229/mo
$261less per month with the assumable
Your Savings on This Property
6436 Kline, Littleton · 5.23% FHA vs 6.5% conventional
$261
per month
$3,130
per year
$93,887
over 30 years
$114,315
interest saved
How gap financing works: The equity gap ($58,297) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,450, 5% of purchase price) and a second mortgage for the rest ($29,847 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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