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
$509,953
Equity Gap
$59,047
Loan Type
FHAAdjust Your Scenario
$28,450
$28,450$59,047
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,417/moAssumable @ 5.23% + gap loan
$3,045/moAssumed loan: $2,810/mo
Gap financing: $235/mo
$372less per month with the assumable
Your Savings on This Property
6436 Kline, Littleton · 5.23% FHA vs 6.5% conventional
$372
per month
$4,461
per year
$133,817
over 30 years
$133,817
interest saved
How gap financing works: The equity gap ($59,047) 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 ($30,597 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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