Loan Comparison: 4.98% vs 6.5%
5884 Taft, Littleton, CO 80127 · 3bd/3ba · $625,000
List Price
$625,000
Assumable Rate
4.98%
Remaining Balance
$561,061
Equity Gap
$89,410
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$89,410
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 4.98% + gap loan
$3,452/moAssumed loan: $3,005/mo
Gap financing: $447/mo
$301less per month with the assumable
Your Savings on This Property
5884 Taft, Littleton · 4.98% FHA vs 6.5% conventional
$301
per month
$3,608
per year
$108,238
over 30 years
$133,709
interest saved
How gap financing works: The equity gap ($89,410) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($58,160 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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