Loan Comparison: 4.98% vs 6.5%
5884 Taft, Littleton, CO 80127 · 3bd/3ba · $615,000
List Price
$615,000
Assumable Rate
4.98%
Remaining Balance
$533,931
Equity Gap
$81,068
Loan Type
FHAAdjust Your Scenario
$30,750
$30,750$81,068
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 4.98% + gap loan
$3,247/moAssumed loan: $2,860/mo
Gap financing: $387/mo
$446less per month with the assumable
Your Savings on This Property
5884 Taft, Littleton · 4.98% FHA vs 6.5% conventional
$446
per month
$5,355
per year
$160,640
over 30 years
$160,639
interest saved
How gap financing works: The equity gap ($81,068) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($50,318 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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