Loan Comparison: 3.77% vs 6.5%
3010 Prentice, Littleton, CO 80123 · 2bd/1ba · $300,000
List Price
$300,000
Assumable Rate
3.77%
Remaining Balance
$211,174
Equity Gap
$88,826
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$88,826
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.77% + gap loan
$1,548/moAssumed loan: $980/mo
Gap financing: $568/mo
$253less per month with the assumable
Your Savings on This Property
3010 Prentice, Littleton · 3.77% FHA vs 6.5% conventional
$253
per month
$3,040
per year
$91,209
over 30 years
$91,209
interest saved
How gap financing works: The equity gap ($88,826) 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 ($73,826 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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