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
$234,176
Equity Gap
$87,420
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$87,420
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.77% + gap loan
$1,644/moAssumed loan: $1,087/mo
Gap financing: $557/mo
$157less per month with the assumable
Your Savings on This Property
3010 Prentice, Littleton · 3.77% FHA vs 6.5% conventional
$157
per month
$1,889
per year
$56,657
over 30 years
$78,253
interest saved
How gap financing works: The equity gap ($87,420) 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 ($72,420 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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