Loan Comparison: 2.81% vs 6.5%
9274 Inca Dove, Littleton, CO 80125 · 3bd/3ba · $540,000
List Price
$540,000
Assumable Rate
2.81%
Remaining Balance
$442,102
Equity Gap
$98,902
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$98,902
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 2.81% + gap loan
$2,372/moAssumed loan: $1,819/mo
Gap financing: $553/mo
$871less per month with the assumable
Your Savings on This Property
9274 Inca Dove, Littleton · 2.81% FHA vs 6.5% conventional
$871
per month
$10,449
per year
$313,460
over 30 years
$314,464
interest saved
How gap financing works: The equity gap ($98,902) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($71,902 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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